Chennai: Hospitality group GRT Hotels & Resorts has acquired five-star category Asiana Hotel on OMR in Chennai. The value of the transaction, which concluded in March this year, is Rs 153 crore, according to sources, who are privy to development.The sources further said, about Rs 100 crore is likely to be invested to renovate the property. Currently, the hotel is not operational. “We want to inaugurate the hotel at least partially with 50-60 rooms by March next year,” an informed source with GRT Hotels said. With 178 rooms, Asiana Hotel will be the latest property of the hospitality chain, which runs 24 hotels across south India.The company is looking to tie-up with Hilton or Marriott for the new facility. Noting that the property was entangled in litigation over the years, sources said, it has remained shut for the past six years.
