IHG and L&T to set up Holiday Inn in Chennai
UK-based IHG (InterContinental Hotels Group) and Larsen & Toubro Ltd, through a joint venture with Arun Excello Commercial Projects Pvt. Ltd, have announced the setting up of Holiday Inn in Estancia integrated township in Chennai, Tamil Nadu.
Disclosing this at a press conference, S. Hariharan, Vice President - Developmental Projects, L&T, said that the new-build 200-room, 75-suite Holiday Inn Estancia would be developed at a cost of Rs 150 crore, and was scheduled to open in 2011. The project will be built by L&T Arun Excello Comeercial Projects and managed by IHG under its award-winning Holiday Inn brand.
Holiday Inn Estancia will be part of the 82-acre Estancia integrated township, a
mixed-use development located on GST Road, 35 km south of Chennai's city centre,
along NH-45. In the JV project, L&T Urban Infrastructure, a subsidiary of L&T
Infrastructure Development Project, will invest 51 per cent of the cost and Arun
Excello the balance.
The entire project is designed by RMJM, a leading UK-based architecture firm.
Paul Logan, Vice President, Development, Southern Asia & Korea said, "Holiday
Inn Estancia Chennai will add to IHG's pipeline of 14 other Holiday Inn hotels
in various stages of development across the country. The new hotels are
scheduled to open in the next three years in 12 cities.
P. Suresh, Managing Director, Arun Excello, said, "L&T's expertise in
engineering and project management will complement Arun Excello's proven
capabilities in executing multidiscipline projects."
Contact: Charles Yap, IHG Asia Pacific (Singapore). Tel: +65 9829 0310;
E-mail: email@example.com or Pranav Kumar, Gutenberg Communications. Tel: +91
98 10077898; E-mail: firstname.lastname@example.org
[May 26-June 1, 2008]