InterContinental group to run hotel near ChennaiMay 20th, 2008 - 7:55 pm ICT by admin
Chennai, May 20 (IANS) Britain-based hotel chain InterContinental Hotels Group (IHG) will run the proposed 200 room, 75 suite Holiday Inn Estancia star hotel near Chennai. Promoted by L&T Arun Excello Commercial Projects Pvt Ltd, a 51:49 joint venture between Larsen and Toubro Limited and construction group Arun Excello, the Rs.1.50 billion hotel project will be ready by 2011, S. Hariharan, vice president of L&T developmental projects, told the media here Tuesday.
IHG’s Southern Asia & Korea vice president-development Paul Logan said the mid-market hotel segment offers good growth opportunities in India.
Holiday Inn Estancia will add to IHG’s pipeline of 14 other Holiday Inn hotels in India that would account for nearly 4,000 rooms scheduled to be opened over the next three years in 12 cities.
The hotel is part of the 82 acre Estancia Integrated Township that includes an IT special economic zone (SEZ) and residential apartments.
Arun Excello Urban Infrastructure Pvt Ltd managing director P.Suresh said the IT SEZ has got confirmed bookings to the extent of 100,000 sq.ft.