ITC inaugurates Rs 1,200 crore Grand Chola hotel in Chennai - The Economic Times
September 15, 2012
Diversified business conglomerate ITC Group today commissioned its eighth property in India 'ITC Grand Chola', set up with an investment of Rs 1,200 crore and considered as the group's largest hotel in the country.
The 600 room hotel, spread across 1.5 million sq ft at Guindy near here, attracted investments of Rs 1,200 crore, ITC Group Chairman Y C Deveshwar said.
Tamil Nadu Chief Minister J Jayalalithaa inaugurated the hotel, en route to the Chennai airport, at a function here.
"It is a momentous occasion for ITC and for Chennai. Way back in 1975, we had made beginning in the hotel business. I am very glad that after many years we have made an elegant hotel like ITC Grand Chola that pays rich tribute to the legacy of Chola (dynasty)," Deveshwar told reporters here.
Inspired by the legacy of Chola dynasty, the hotel has conference halls and rooms in the name of Rajendra Cholan and Raja Cholan.
Stating that this was their biggest property in India, he said the hotel consists 100,000 sq ft of banqueting and convention space, 30,000 square foot of pillar-less ballroom, besides 10 food and beverage outlets.
ITC Grand Chola is the second property for the group in Chennai after ITC Chola Sheraton which was recently renamed as 'My Fortune'. The group also has two ultra luxury properties in New Delhi, Mumbai, Bangalore, respectively.
He said ITC Grand Chola appointed workforce close to 4,000 people with over 1,000 people engaging in day-to-day operations.
He added that ITC Grand Chola was the world's largest and highest LEED platinum green hotel that is 100 per cent powered by renewable energy.
On his brief interaction with the Chief Minister, Deveshwar said Jayalalithaa offered her government's support for all ITC Group's initiatives in Tamil Nadu.
"I am very optimistic. I will urge my colleagues in office to expedite the work we are undertaking in Tamil Nadu," Deveshwar said.
He said as part of expansion, ITC has planned to convert its facility in Sivakasi into a food-processing unit besides setting up of a logistics hub on a 30 acre land near Chennai.
"These are our ongoing projects in Tamil Nadu. I told her (Jayalalithaa) we will be looking at Tamil Nadu for growing our other businesses," he said.
