Hyderabad, Jan. 29
THE Ritz Hotel, located in the heart of the city on a picturesque hillock, will after years of uncertainty and in a partially dilapidated condition will be restored by a special purpose vehicle-supported project of Varsha Hillfort Resorts at an investment of $30 million (Rs 135 crore).
To be named Le Meridien Hotel and Convention Centre, it would be completed in 18 to 24 months. It would have 300 rooms, up from the current 40, and is planned for commissioning by June 2006.
The promoters of the hotel, Mr Anil Kumar & Associates, an NRI based in London, and Mr B.S. Neelakanta of Varsha Resorts, have leased out the project for 33 years from the Andhra Pradesh Tourism Development Corporation, the property owner. They have roped in the hospitality chain Le Meridien Group to be part of both restoration of the heritage building as also management of the hotel.