New Delhi, Nov 9 (Inditop.com) Phoenix Hospitality has partnered with international hotel chain Marriott for setting up two properties under the Marriot brand in Mumbai and Agra at an investment of Rs.320 crore.
The Mumbai hotel will be developed by Graceworks Realty and Leisure, a company promoted by Phoenix Hospitality and HBS Realtors. The 300-key hotel will come up on 25 acres in the Kurla area.
The Agra property, under Marriott’s Courtyard brand, is a 165-key hotel and will be developed by Gangetic Hotels.
“Mumbai and Agra are both growing and sustainable markets,” said Shishir Shrivastava, chief development director of the Phoenix group.
“The last four to six quarters may have been disappointing for the hospitality industry, but we continue to have faith in the Indian consumption story and anticipate increasing demand in the years to come,” he added.
