Category: Business

In talks with international brands to run the hotel

Chennai, April 02, 2015

Sheraton Park Hotel & Towers, a prominent landmark in Chennai and one of the oldest five-star properties in the city, will soon morph into an InterContinental hotel.

With the promoter, Adyar Gate Hotel Ltd (AGHL), deciding to part ways with ITC, the 300-room five-star hotel, with its well-known food and beverage outlets such as Dakshin, The Regency, Dublin, On The Rocks and The West Minister, will soon cease to be an ITC property.

Though industry sources confirmed this development, Bharat Goyal, Managing Director, AGHL, could only say the company has decided to part ways with ITC, and has been in talks with a couple of international brands to run the hotel. “I can confirm the new brand in the next few days,” he told BusinessLine.

According to sources, the split could be because of a conflict of interest between AGHL and ITC. “ITC is keen on driving traffic to its own 600-room property ‘Grand Chola’ in the city, rather than to this hotel,” said a senior industry executive.

When contacted, Anil Chadha, Area Manager South and General Manager, Grand Chola, said he was not aware of this development. “All I know is that the contract between Adyar Gate and ITC is due for renewal,” he said.

Once AGHL checks out, the ITC chain will have three hotels in the city – Grand Chola, My Fortune and Fortune Select Palms.

Goyal said the contract with ITC to manage AGHL’s soon-to-be-launched beach resort ITC Vilasa on East Coast Road in Chennai remains valid.

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