New Delhi, Oct. 22: Hong Kong-based Shangri-La Hotels and Resorts today announced its foray into India by signing a management agreement with the Eros group under which Hotel Kanishka will be re-branded as Shangri-La Hotel.
The Eros group acquired Hotel Kanishka last year for Rs 96 crore when the ITDC property was put on the block.
“We are spending close to Rs 45 crore on the renovation of the entire hotel,” said Jagdish Rai Sood, chairman of Hotel Excelsior Private Limited, a member of the Eros Group.
Managing director and CEO of Shangri-La Hotels and Resorts Giovanni Angelini said, “This is a pure management agreement; we will impart management support and knowhow to them. We have made no investment at all.”
The re-branded five star deluxe hotel is expected to be operational by November next year.
The contemporary-styled 17-storey Shangri-La Hotel has been re-designed by Hong Kong-based Chhada, Siembieda and Associates. The hotel will see three new meeting rooms and a 450 square-metre ballroom divided into three. There will be two restaurants, a coffee shop overlooking the new outdoor pool and an Asian eclectic restaurant serving Chinese, Thai, Malay and Japanese cuisine.
There will also be a new health club and spa featuring a gym, treatment rooms, sauna, steam room and jacuzzi.
Shangri-La Hotels and Resorts will also open an exclusive ‘eco-oriented resort’ in the Maldives by the end of next year. Angelini said the hotel group is also looking at the Sri Lankan market to enter into similar agreements.
The Eros Group is involved in real estate development in India. The group has interests in five star hotels, residential buildings, cinemas, commercial complexes and shopping plazas.
Shangri-La Hotels and Resorts currently manages 41 hotels in Australia, mainland China, Fiji, Hong Kong, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Taiwan, Thailand and United Arab Emirates. It currently has approximately 20 projects under development in mainland China, Malaysia, Maldives, Dubai, Oman and Qatar.
Knight Frank, a real estate and hospitality advisory services firm, has played an integral part in advising the Eros Group and Shangri-La Hotels and Resorts in structuring the management agreement.