| As per the management contract, Shangri La will receive a certain percentage of both the revenues and profits from the combined venture. The 162-room hotel is targeted at both the domestic and international business travellers. |
| "J-Hotels has funded the development of the hotel while Shangri La brings in its management and networking expertise. 'Traders' will compete with the top three hotel properties in Chennai," said Symon Bridle, vice-president of Shangri La. |
| He further said that Chennai had been chosen as a location as it has business links with southeast Asia, and air links with Malaysia and Thailand where the 'Traders' brand is strong. |
| The dining and entertainment facilities at the hotel include Seasons Cafe; Indiana, a contemporary Indian restaurant; Zodiac, the hotel bar; and a rooftop restaurant which is scheduled to be opened in the second phase. |
| The other regular star facilities include a business centre, health club, massage rooms and swimming pools. |
| The Traders Hotel in Chennai is the first of the 8-10 hotel chain that Shangri La plans to open in India in about four to five years. Traders Hotel addresses the mid-market travel segment while the company's self-named second brand Shangri La is aimed at the leisure segment. |
| Shangri La will open three new properties in Bangalore, scheduled to be opened between August 2007 and December 2008. The other cities that will form part of the international hotel chain's list include Mumbai, Gurgaon, Hyderabad and Pune. |
| Though the company plans to primarily sign management contracts with its partners and not invest directly, it has not ruled out direct investments if an opportunity presents itself. |
| Shangri La manages 46 hotels worldwide and has about 30 hotel projects which are currently under development. The company ended 2004 with revenues of $1.1 billion. |
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