India's luxury hotels swap global brands as revenues slump | scmp.com

Less than nine months after opening the first hotel in Mumbai under its brand, Hong Kong luxury chain operator Shangri-La Asia handed the keys back to the owner. Now, United States-based Starwood Hotels & Resorts Worldwide is in talks with the same owner to take over management of the property under its St Regis brand, people familiar with the matter said, as part of a shake-out in the luxury segment of India’s ailing hotel industry.