Shangri-La group exits Traders Hotel

Chennai's Traders Hotel has been renamed The Accord Metropolitan, Chennai, following the exit of the Shangri-La group, which owns the Traders brand.

Shangri-La's exit came following differences with J Hotels, the local entity which financed the establishment of the hotel.

P J Mammen, executive director of The Accord Metropolitan, Chennai, said that there was an amicable split between Shangri-La and J Hotels. The difference came as Shangri -La wanted to take management control, while J Hotels wanted Shangri-La to remain a franchisee.

J Hotels' new partner, Singapore-based The Accord Metropolitan Hospitality, will work as a franchisee. The Accord Metropolitan, Chennai, has approached the Ministry of Tourism to start the process that would examine if the the hotel qualifies for a 5-star rating, said Mammen.

J Hotels' has plans to promote more hotels in South India. Mammen said that one project each in Chennai and Pondicherry are in the pipeline. The group is in advanced stage of negotiations for land in Coimbatore and Hyderabad, he added.

The Accord Metropolitan, Chennai, started operations in April this year with 162 rooms. On that occasion, the J Hotels said that it had invested Rs 100 crore in the project.