Chennai Hotels thread - Page 64

lordvijay · June 14th, 2012, 05:07 AM

Quote:

Originally Posted by iaafosc

excuse my ignorance ...but the hotel next to SUN tv office....with ramee mall and all...is that Hyatt regency or Park Hyatt...???

If you are referring to the one on mount road, it's hyatt regency, and btw sun tv office is now at MRC nagar. The hotel there near sun office is leela palace. Park hyatt is at velachery.

iaafosc · June 14th, 2012, 07:43 AM

thanks i was referring to the mount road one only...

bonoslack7 · June 20th, 2012, 06:50 PM

http://in.reuters.com/article/2012/0...8HB58620120620

Lenders to India's Hotel Leela , a 5-star chain that is more than two months behind in payments on $700 million of debt, are likely to bite the bullet and amend the loan terms rather than declare it in default, say bankers involved in the talks.

Restructuring corporate loans - allowing banks to dilute payment terms without classifying loans as bad - is on the rise in Asia's third-largest economy, providing a lifeline to borrowers struggling in a sharp economic slowdown, but piling more stress on bank balance sheets.

Hidden weaknesses in bank balance sheets are a greater risk as Indian banks' reserve coverage ratio - the buffer a bank has to set off against loan losses - is among the lowest in Asia.

Officially, 3 percent of loans in India are bad. Including restructured or "impaired" loans, for which banks don't have to set aside heavy provisions in case of default, the figure is about 7 percent, according to analysts.

The reality is worse, say some bankers and industry experts, who say many loans are restructured outside official channels, with some banks and borrowers taking advantage of harder-to-track "evergreening" of loans to avoid declaring default. Under evergreening, banks provide additional loans to stressed borrowers, often indirectly, to enable them to repay existing loans. That can keep a loan from going sour, but it ratchets up a bank's exposure to a troubled credit.

It's estimated that at least a tenth of loans to the real estate sector - where restructuring rules are stringent - are stressed, as against the 3-4 percent cited by banks, said Amit Goenka, head of capital markets at UK-based Knight Frank.

"There's a certain amount of under-reporting arising out of evergreening of loans, which can never be precisely derived," said A.S.V. Krishnan, banking analyst at Mumbai brokerage Ambit Capital.

Lenders are also staring at the prospect of more bad loans as the economy shudders. Standard & Poor's has warned that India could become the first of the so-called BRIC economies to lose its investment-grade status on slowing growth and political roadblocks to economic policymaking.

In the year to end-March, Indian banks sought to restructure a record $12 billion in corporate loans through the Corporate Debt Restructuring Cell (CDR), a central bank-approved consortium of lenders - an increase of 156 percent on the year before. And that excludes billions of dollars in loans restructured outside the official channel, including $4 billion of Air India debt and about $5.5 billion of loans at loss-making state electricity boards.

"Going to CDR has almost become fashionable these days. Borrowers are exploiting the CDR mechanism without exhausting other genuine avenues of redressing their problems around over-leverage," Ambit's Krishnan said.

The recent surge in loan restructuring may just be putting off the inevitable, though. Ratings agency CRISIL expects new loan restructuring over fiscal year 2012 and 2013 to hit $36 billion, and analysts warn that 25-50 percent of such loans are likely to turn bad and hit banks' profitability. Fresh restructuring of loans in the year to March 2011 was negligible.

"Restructuring helps the company sometimes, but if you step back and see it leads to 'evergreening' of loans which can cause problems going forward," said Vikram Bajaj, director at Renaissance Capital Advisors, which advises companies on debt restructuring. "Basically, what you're doing is taking a call that the borrower may come out of the situation and you're giving him more money, but the odds, in most cases, are against it. Kingfisher Airlines is the biggest example of that."

In the best-known recent example of a restructured loan turning sour, liquor baron Vijay Mallya's Kingfisher Airlines defaulted to most banks on a $1.4 billion loan.

PERILOUS PRACTICE

Bankers defend the practice of restructuring loans, which typically entails extending tenure on the loan, easing interest rates or even converting debt into equity.

"Actively restructuring loans has helped us in controlling slippage," said Pratip Chaudhuri, chairman of State Bank of India, the country's biggest lender. "We have to live with high restructurings now and look for recoveries tomorrow."

The problem is that many such loans are never recovered and turn non-performing, adding to the challenge of collecting on bad loans in a country where there is no bankruptcy law - the absence of which makes banks more inclined to help borrowers rather than declare a loan to be in default and receive nothing.

At SBI, 43 percent of loans restructured in the year to March 2010 were declared non-performing within two years, said Soundara Kumar, a deputy managing director at the bank.

Central Bank of India, a mid-sized state lender, learned the hard way how quickly a restructured loan can go bad. In November, it agreed to restructure an $80 million loan to steelmaker Electrotherm, which was having difficulty with an order for a client in Tanzania.

Within months of giving a breather to a long-time customer, Central Bank downgraded the loan to non-performing, and was the only listed bank to report a net loss for the March quarter.

"They weren't able to execute the order. So they asked us to restructure the loan, and, in the March quarter, the account slipped. It happened very quickly," said a senior executive at Central Bank of India, who did not want to be identified.

Another state-run lender, UCO Bank, ended its ties with Electrotherm when the steelmaker failed to make timely payments even when it was able to, a bank official told Reuters.

"Electrotherm did not pay us the dues even when they had the liquidity and were still making profits," said UCO Bank Chairman Arun Kaul. UCO has classified the account as non performing and is in the process of recovering the loan, he said.

Electrotherm's investor relations officers could not be reached for a comment for this article.

In another case, lenders including SBI, Power Finance Corp and Rural Electrification Corp restructured loans to a hydropower project, which was mired in environmental clearances. The account turned bad within two years of being restructured, said a senior bank executive involved with the loan.

Morgan Stanley expects "impaired loans" - bad and restructured loans put together - for all Indian banks to double to 10 percent of total debt within 18 months.

Although the Reserve Bank of India is concerned about banks' rising bad loans, it does not see a risk due to aggressive debt restructuring. "I believe banks are doing it with understanding, with discretion," said RBI Deputy Governor K.C. Chakrabarty. "If they are not doing, we need to pull them up."

EVERGREENING

While restructuring is allowed by the central bank, the murkier "evergreening" of loans is frowned upon. Several bankers said it is widespread, but declined to give details.

The practice is said to be particularly common in commercial real estate, where tougher restructuring guidelines require banks to classify a loan as non-performing and set aside more funds as provisions - effectively removing any official middle ground between a performing loan and a default.

"Banks have been working actively to avoid such provisioning and classification," said Knight Frank's Goenka. "Real estate provisioning is seen adversely by the regulator and pushes up the cost of lending. This may have led to some evergreening-like measures within the financial institutions."

Hotel Leela, which borrowed heavily for projects in Delhi and Chennai and recently sold a property to raise money, is seeking additional bank loans to pay its debt, said two sources directly involved in the restructuring.

One of its lenders, Syndicate Bank, wants Leela's controlling shareholder to put in another 3-4 billion rupees in equity from the sale of a hotel in the southern state of Kerala before it agrees to restructure the loan, a stance most of its lenders support, said an executive at another bank who has loans to Leela and is involved in the discussions.

Hotel Leela Vice Chairman Vivek Nair did not respond to several calls from Reuters seeking comment for this article.

"Leela is asking for about 600 crore more (6 billion rupees) ($107 million). Banks aren't willing to give as they want this to pay off some debt. That's evergreening. Banks want promoters to get more contribution, equity upfront," said another lender, who asked not to be named given the sensitivity of the matter.

vinodgopal · June 23rd, 2012, 05:28 AM

well it is about time Five star hotels rely heavily on online reservations to ensure their rooms are not left vacant. They have recurring expenses in plenty and maybe even the 700 million debt is because of part filled or almost non-filled rooms.

What could also be the reason for this is Chennai has a very poor image in terms of tourism and i have already stressed the importance of bringing out a pivotal or anchor tourism spot. It shouldn't take 10 days for someone to know the best tourism spots in Chennai as against an instant identity.

Oh Chennai means koovam - that image needs to be gone. Oh chennai means heat and dust - second bad image to be wiped out. Oh Chennai means lack of cute looking females - haven't i stressed the importance of some beach bikini babes in Chennai beaches?

Things are still the same inspite of my years and decades of suggestions.

Cha cha cha. Yenna vazhka da idhu.

ceeznic pirate · June 23rd, 2012, 11:07 AM

Near Accenture, shollinganallur-Gateway?

ranga · June 23rd, 2012, 01:42 PM

Quote:

Originally Posted by vinodgopal

well it is about time Five star hotels rely heavily on online reservations to ensure their rooms are not left vacant. They have recurring expenses in plenty and maybe even the 700 million debt is because of part filled or almost non-filled rooms.

What could also be the reason for this is Chennai has a very poor image in terms of tourism and i have already stressed the importance of bringing out a pivotal or anchor tourism spot. It shouldn't take 10 days for someone to know the best tourism spots in Chennai as against an instant identity.

Oh Chennai means koovam - that image needs to be gone. Oh chennai means heat and dust - second bad image to be wiped out. Oh Chennai means lack of cute looking females - haven't i stressed the importance of some beach bikini babes in Chennai beaches?

Things are still the same inspite of my years and decades of suggestions.

Cha cha cha. Yenna vazhka da idhu.

What nonsense.Leela is not in dire straits just becos of their hotel in chennai which is not even opened.Hotel industry is in bad shape all over the country becos of global economy not doing well.India is not a well known tourist destination.Few pockets in the country have good number of foreign tourists visting and chennai/TN is not very much behind.Talking of beaches have u seen beaches in Mumbai which are much dirtier and repulsive.Molesting and misbehaving with young foreign female tourists is often in the news in North India which is not heard of in chennai.

Cosmicbliss · June 23rd, 2012, 01:50 PM

Quote:

Originally Posted by ranga

What nonsense.Leela is not in dire straits just becos of their hotel in chennai which is not even opened.Hotel industry is in bad shape all over the country becos of global economy not doing well.India is not a well known tourist destination.Few pockets in the country have good number of foreign tourists visting and chennai/TN is not very much behind.Talking of beaches have u seen beaches in Mumbai which are much dirtier and repulsive.Molesting and misbehaving with young foreign female tourists is often in the news in North India which is not heard of in chennai.

Beaches in Mumbai are not dirtier than Chennai by any means from my own experience. Chennai has its strong points, but a little marketing, a little hype, a little sprucing up won't hurt. On the contrary, it will only attract even more investment and make the city an even more attractive destination. A city which has a world heritage site like Mahabs and a peaceful beautiful city like Pondi so close by, needs to be marketed more. Not to mention the many things in Chennai itself to see.

ferrari_fan · June 23rd, 2012, 05:40 PM

Quote:

Originally Posted by ceeznic pirate

Near Accenture, shollinganallur-Gateway?

Yes...

sridhar_n · June 24th, 2012, 09:24 AM

Quote:

Originally Posted by Cosmicbliss

Beaches in Mumbai are not dirtier than Chennai by any means from my own experience. Chennai has its strong points, but a little marketing, a little hype, a little sprucing up won't hurt. On the contrary, it will only attract even more investment and make the city an even more attractive destination. A city which has a world heritage site like Mahabs and a peaceful beautiful city like Pondi so close by, needs to be marketed more. Not to mention the many things in Chennai itself to see.

Very true. There has been a talk about creating a entertainment/leisure corridor in ECR. And both semmozhi poonga and adyar park have to be developed, marketed and maintained well.

Cosmicbliss · June 24th, 2012, 01:03 PM

Quote:

Originally Posted by sridhar_n

Very true. There has been a talk about creating a entertainment/leisure corridor in ECR. And both semmozhi poonga and adyar park have to be developed, marketed and maintained well.

How many cities in India have a beach?

Planners must make the most of it.

murlee · June 24th, 2012, 06:32 PM

Looks like Park Sheraton is undergoing some renovation.. Glass facade??

bonoslack7 · July 2nd, 2012, 05:43 PM

http://www.theleela.com/locations/chennai

bonoslack7 · July 2nd, 2012, 06:03 PM

krishnancv · July 2nd, 2012, 06:17 PM

My god!!! The seafront is such a USP to them!!!!

ferrari_fan · July 4th, 2012, 06:35 AM

The views shown through the windows in a couple of the rooms - are they renderings of the view, or are they the actual views?

vinodgopal · July 4th, 2012, 10:42 AM

Quote:

Originally Posted by ferrari_fan

The views shown through the windows in a couple of the rooms - are they renderings of the view, or are they the actual views?

view i think. otherwise noone can build such star hotels so close to the beach. A Tsunami would wreck huge havoc or even a storm for that matter. i take back my words. looks like really a sea side view. Spectacular indeed.

madrasi7777 · July 4th, 2012, 01:49 PM

The looks of the hotel is brilliant. It is as good as any. Waiting for it to open.

***IndiansUnite*** · July 13th, 2012, 03:58 AM

Leela Palace, MRC Nagar on June 4

copyright Reuters

karkal · July 14th, 2012, 04:59 AM

Wow...Looks inside and outside awesome.

Metrohigh · July 14th, 2012, 09:16 AM

http://newindianexpress.com/business/article565674.ece

Ginger Hotels, the chain of Smart Basics hotels from Roots Corporation Ltd., on Thursday launched its second property in Chennai located at Vadapalani. Venu Srinivasan, Chairman of TVS Motor Company Ltd and Sundaram Clayton Ltd inaugurated the hotel.

Targeting business travellers, the Ginger Hotel at Vadapalani is the 26th property under Roots Corporation.

Speaking on the launch, Prabhat Pani, CEO and Director, Roots Corporation Ltd., said, “The first Ginger Hotel has been well received in Chennai as it holds tremendous potential for this innovative category of budget hotels. The new hotel will meet the needs of business travellers visiting Chennai.”

The 79-room hotel in Vadapalani is centrally air-conditioned. It is also well-equipped with a well-appointed meeting room, a gymnasium and Wi-Fi connectivity both in the public areas and individual rooms to ensure a pleasant experience.

June 20th, 2012, 06:50 PM	#1263
bonoslack7 Registered User Join Date: Nov 2008 Location: Paramathi Velur Posts: 3,963 Likes (Received): 14	Deadbeat corporate borrowers? Not in India http://in.reuters.com/article/2012/0...8HB58620120620 Lenders to India's Hotel Leela , a 5-star chain that is more than two months behind in payments on $700 million of debt, are likely to bite the bullet and amend the loan terms rather than declare it in default, say bankers involved in the talks. Restructuring corporate loans - allowing banks to dilute payment terms without classifying loans as bad - is on the rise in Asia's third-largest economy, providing a lifeline to borrowers struggling in a sharp economic slowdown, but piling more stress on bank balance sheets. Hidden weaknesses in bank balance sheets are a greater risk as Indian banks' reserve coverage ratio - the buffer a bank has to set off against loan losses - is among the lowest in Asia. Officially, 3 percent of loans in India are bad. Including restructured or "impaired" loans, for which banks don't have to set aside heavy provisions in case of default, the figure is about 7 percent, according to analysts. The reality is worse, say some bankers and industry experts, who say many loans are restructured outside official channels, with some banks and borrowers taking advantage of harder-to-track "evergreening" of loans to avoid declaring default. Under evergreening, banks provide additional loans to stressed borrowers, often indirectly, to enable them to repay existing loans. That can keep a loan from going sour, but it ratchets up a bank's exposure to a troubled credit. It's estimated that at least a tenth of loans to the real estate sector - where restructuring rules are stringent - are stressed, as against the 3-4 percent cited by banks, said Amit Goenka, head of capital markets at UK-based Knight Frank. "There's a certain amount of under-reporting arising out of evergreening of loans, which can never be precisely derived," said A.S.V. Krishnan, banking analyst at Mumbai brokerage Ambit Capital. Lenders are also staring at the prospect of more bad loans as the economy shudders. Standard & Poor's has warned that India could become the first of the so-called BRIC economies to lose its investment-grade status on slowing growth and political roadblocks to economic policymaking. In the year to end-March, Indian banks sought to restructure a record $12 billion in corporate loans through the Corporate Debt Restructuring Cell (CDR), a central bank-approved consortium of lenders - an increase of 156 percent on the year before. And that excludes billions of dollars in loans restructured outside the official channel, including $4 billion of Air India debt and about $5.5 billion of loans at loss-making state electricity boards. "Going to CDR has almost become fashionable these days. Borrowers are exploiting the CDR mechanism without exhausting other genuine avenues of redressing their problems around over-leverage," Ambit's Krishnan said. The recent surge in loan restructuring may just be putting off the inevitable, though. Ratings agency CRISIL expects new loan restructuring over fiscal year 2012 and 2013 to hit $36 billion, and analysts warn that 25-50 percent of such loans are likely to turn bad and hit banks' profitability. Fresh restructuring of loans in the year to March 2011 was negligible. "Restructuring helps the company sometimes, but if you step back and see it leads to 'evergreening' of loans which can cause problems going forward," said Vikram Bajaj, director at Renaissance Capital Advisors, which advises companies on debt restructuring. "Basically, what you're doing is taking a call that the borrower may come out of the situation and you're giving him more money, but the odds, in most cases, are against it. Kingfisher Airlines is the biggest example of that." In the best-known recent example of a restructured loan turning sour, liquor baron Vijay Mallya's Kingfisher Airlines defaulted to most banks on a $1.4 billion loan. PERILOUS PRACTICE Bankers defend the practice of restructuring loans, which typically entails extending tenure on the loan, easing interest rates or even converting debt into equity. "Actively restructuring loans has helped us in controlling slippage," said Pratip Chaudhuri, chairman of State Bank of India, the country's biggest lender. "We have to live with high restructurings now and look for recoveries tomorrow." The problem is that many such loans are never recovered and turn non-performing, adding to the challenge of collecting on bad loans in a country where there is no bankruptcy law - the absence of which makes banks more inclined to help borrowers rather than declare a loan to be in default and receive nothing. At SBI, 43 percent of loans restructured in the year to March 2010 were declared non-performing within two years, said Soundara Kumar, a deputy managing director at the bank. Central Bank of India, a mid-sized state lender, learned the hard way how quickly a restructured loan can go bad. In November, it agreed to restructure an $80 million loan to steelmaker Electrotherm, which was having difficulty with an order for a client in Tanzania. Within months of giving a breather to a long-time customer, Central Bank downgraded the loan to non-performing, and was the only listed bank to report a net loss for the March quarter. "They weren't able to execute the order. So they asked us to restructure the loan, and, in the March quarter, the account slipped. It happened very quickly," said a senior executive at Central Bank of India, who did not want to be identified. Another state-run lender, UCO Bank, ended its ties with Electrotherm when the steelmaker failed to make timely payments even when it was able to, a bank official told Reuters. "Electrotherm did not pay us the dues even when they had the liquidity and were still making profits," said UCO Bank Chairman Arun Kaul. UCO has classified the account as non performing and is in the process of recovering the loan, he said. Electrotherm's investor relations officers could not be reached for a comment for this article. In another case, lenders including SBI, Power Finance Corp and Rural Electrification Corp restructured loans to a hydropower project, which was mired in environmental clearances. The account turned bad within two years of being restructured, said a senior bank executive involved with the loan. Morgan Stanley expects "impaired loans" - bad and restructured loans put together - for all Indian banks to double to 10 percent of total debt within 18 months. Although the Reserve Bank of India is concerned about banks' rising bad loans, it does not see a risk due to aggressive debt restructuring. "I believe banks are doing it with understanding, with discretion," said RBI Deputy Governor K.C. Chakrabarty. "If they are not doing, we need to pull them up." EVERGREENING While restructuring is allowed by the central bank, the murkier "evergreening" of loans is frowned upon. Several bankers said it is widespread, but declined to give details. The practice is said to be particularly common in commercial real estate, where tougher restructuring guidelines require banks to classify a loan as non-performing and set aside more funds as provisions - effectively removing any official middle ground between a performing loan and a default. "Banks have been working actively to avoid such provisioning and classification," said Knight Frank's Goenka. "Real estate provisioning is seen adversely by the regulator and pushes up the cost of lending. This may have led to some evergreening-like measures within the financial institutions." Hotel Leela, which borrowed heavily for projects in Delhi and Chennai and recently sold a property to raise money, is seeking additional bank loans to pay its debt, said two sources directly involved in the restructuring. One of its lenders, Syndicate Bank, wants Leela's controlling shareholder to put in another 3-4 billion rupees in equity from the sale of a hotel in the southern state of Kerala before it agrees to restructure the loan, a stance most of its lenders support, said an executive at another bank who has loans to Leela and is involved in the discussions. Hotel Leela Vice Chairman Vivek Nair did not respond to several calls from Reuters seeking comment for this article. "Leela is asking for about 600 crore more (6 billion rupees) ($107 million). Banks aren't willing to give as they want this to pay off some debt. That's evergreening. Banks want promoters to get more contribution, equity upfront," said another lender, who asked not to be named given the sensitivity of the matter.

June 23rd, 2012, 11:07 AM	#1265
ceeznic pirate Chennai-100 Join Date: Dec 2009 Posts: 2,362 Likes (Received): 931	Near Accenture, shollinganallur-Gateway? __________________ flickr \| I Lov Chennai \| Chennai - Delhi - Manali Trip - Jan 2013

July 2nd, 2012, 05:43 PM	#1272
bonoslack7 Registered User Join Date: Nov 2008 Location: Paramathi Velur Posts: 3,963 Likes (Received): 14	Leela Palace to open on September 15 http://www.theleela.com/locations/chennai

July 2nd, 2012, 06:03 PM	#1273
bonoslack7 Registered User Join Date: Nov 2008 Location: Paramathi Velur Posts: 3,963 Likes (Received): 14	Leela Palace, Chennai

July 2nd, 2012, 06:17 PM	#1274
krishnancv Registered User Join Date: Jun 2008 Location: Chennai/Columbus Posts: 1,208 Likes (Received): 64	My god!!! The seafront is such a USP to them!!!! __________________ visit my blog: http://aviatorchakravarthy.blogspot.com http://cvkk1990.blogspot.com/

June 14th, 2012, 07:43 AM	#1262
iaafosc Registered User Join Date: Jun 2012 Posts: 751 Likes (Received): 106	thanks i was referring to the mount road one only...

June 23rd, 2012, 05:28 AM	#1264
vinodgopal Registered User Join Date: Jul 2009 Posts: 1,902 Likes (Received): 55	well it is about time Five star hotels rely heavily on online reservations to ensure their rooms are not left vacant. They have recurring expenses in plenty and maybe even the 700 million debt is because of part filled or almost non-filled rooms. What could also be the reason for this is Chennai has a very poor image in terms of tourism and i have already stressed the importance of bringing out a pivotal or anchor tourism spot. It shouldn't take 10 days for someone to know the best tourism spots in Chennai as against an instant identity. Oh Chennai means koovam - that image needs to be gone. Oh chennai means heat and dust - second bad image to be wiped out. Oh Chennai means lack of cute looking females - haven't i stressed the importance of some beach bikini babes in Chennai beaches? Things are still the same inspite of my years and decades of suggestions. Cha cha cha. Yenna vazhka da idhu.

June 24th, 2012, 06:32 PM	#1271
murlee BÁNNED Join Date: Nov 2009 Location: Chennai Posts: 8,752 Likes (Received): 1309	Looks like Park Sheraton is undergoing some renovation.. Glass facade??

July 4th, 2012, 06:35 AM	#1275
ferrari_fan Forza! Join Date: Jan 2006 Location: Chennai + Hyderabad Posts: 3,619 Likes (Received): 152	The views shown through the windows in a couple of the rooms - are they renderings of the view, or are they the actual views? __________________ Driving Trip across India \| Driving Trip across Rajasthan \| Chennai Pics \| Photography \| www.motjuste.biz

July 4th, 2012, 01:49 PM	#1277
madrasi7777 Registered User Join Date: Mar 2010 Location: Chennai Posts: 781 Likes (Received): 94	The looks of the hotel is brilliant. It is as good as any. Waiting for it to open.

July 13th, 2012, 03:58 AM	#1278
*IndiansUnite* -> Join Date: Apr 2006 Location: Hanooz Dilli dur ast Posts: 10,464	Leela Palace, MRC Nagar on June 4 copyright Reuters

July 14th, 2012, 04:59 AM	#1279
karkal Registered User Join Date: Jan 2012 Posts: 5,803 Likes (Received): 1474	Wow...Looks inside and outside awesome.

July 14th, 2012, 09:16 AM	#1280
Metrohigh Registered User Join Date: Mar 2010 Posts: 81 Likes (Received): 51	Ginger Hotel at Vadapalani http://newindianexpress.com/business/article565674.ece Ginger Hotels, the chain of Smart Basics hotels from Roots Corporation Ltd., on Thursday launched its second property in Chennai located at Vadapalani. Venu Srinivasan, Chairman of TVS Motor Company Ltd and Sundaram Clayton Ltd inaugurated the hotel. Targeting business travellers, the Ginger Hotel at Vadapalani is the 26th property under Roots Corporation. Speaking on the launch, Prabhat Pani, CEO and Director, Roots Corporation Ltd., said, “The first Ginger Hotel has been well received in Chennai as it holds tremendous potential for this innovative category of budget hotels. The new hotel will meet the needs of business travellers visiting Chennai.” The 79-room hotel in Vadapalani is centrally air-conditioned. It is also well-equipped with a well-appointed meeting room, a gymnasium and Wi-Fi connectivity both in the public areas and individual rooms to ensure a pleasant experience.

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