Phoenix Mills has informed that the Company’s wholly owned subsidiary, Pallazzio Hotels & Leisure (Pallazzio) has entered into definitive agreements with Starwood Hotels & Resorts and its affiliates (Starwood) for the management and operation of Pallazzio’s hotel at Lower Parel, Mumbai. The management of the hotel is currently being transitioned to the Starwood management team, pursuant to which it will be rebranded as The St. Regis, Mumbai.
The above information is a part of company’s filings submitted to BSE.
