The Hindu Business Line : ‘Le Royal Meridien not for sale, expansion on’

Chennai, Feb. 6 Terming the widespread speculation that hotel Le Royal Meridien in Chennai is put on the market as “untrue and totally baseless”, Mr Palani G. Periasamy, Chairman, Appu Hotels Ltd, that owns the property, said, “We are, on the contrary, renovating the property at an expense of Rs 75 crore to comply with Meridien’s new specifications”.

According to him, the idea is also to add another 15 rooms to the existing 240. “We consider this as a strategic investment, and we are committed to making a tangible presence in the hospitality industry,” he said.

The company is also planning to launch its new Rs 225-crore five-star property in Coimbatore by the end of this calendar year. The hotel, again to be managed by Meridien, will have 250 rooms. Appu Hotels has also taken a 20-room four-star resort in Kumbakonam on a 15-year lease from the Tamil Nadu Tourism Development Corporation, and is planning to add another 25 rooms at an investment of Rs 5 crore to make it commercially viable.

“We have already invested Rs 7 crore in refurbishing the property.”

Besides, the company has a nine-acre property on East Coast Road where it plans to build a resort, and a mega mall and a hotel on 24 acres near Chennai airport “probably with a joint venture partner”.

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