Chennai, May 21: The Holiday Inn Hotel is back in Chennai. After establishing its first hotel way back in 1973, the Inter-continental Hotels Group (IHG) has cemented a JV agreement with L&T to form L and T Arun Excello Commercial Projects Private Limited for constructing a 200 room, 75-suite Holiday Inn in Chennai's Estancia Integrated Township near Guduvancherry on the southern suburbs, about 35 km from the city.
Coming up in a 82 acre area with a total investment of Rs 150 crore, the hotel would be ready for operations in 2011. The hotel would be part of the Integrated township, which also included a residential zone with 1,900 apartments (41 acres), a three million sq ft IT SEZ Park (29 acres), a retail mall with multiplex (nine acres) and Vidya Mandir School (three acres).
IHG Asia Pacific Vice-President Paul Logan and L and T Developmental Projects Vice-President S Hariharan told reporters here that Holiday Inn Estancia, Chennai, would add to IHG's pipeline of 14 others Holiday Inn hotels in varous stages of development across the country, accouting for 4,000 rooms. These hotels spread over 12 cities would be opened in three years time.
They said the first phase of 700 apartments, works for which began in April last year, would be ready for occupation by June next year. The Vidya Mandir school, with CBSE curriculum, would also be ready by the same time.