To capitalize on Bengaluru which is not only an IT Hub but is also becoming a manufacturing hub, Adarsh Realty and Hotels, hospitality arm of Adarsh Group, is to invest around Rs 600 crore in building a Shangri-La branded luxury hotel there, said sources. This is the second Shangri-La hotel in Bengaluru and third in the country. The first Shangri-La hotel was opened in Delhi in 2005.
Rajiv Seth, vice-president (hospitality) at Adarsh Realty and Hotels, said that, "The 370-key property, located in the IT hub of Bengaluru's Outer Ring Road, is likely to be completed in the next two years." The company will fund the project through a combination of debt and equity.