Appu Hotels, owner of Le Meridian Hotels in Chennai and Coimbatore, is planning to open three more hotels in the next two years with an investment of INR 500-600 crore. Business Standard said the company was also exploring possibilities of acquiring properties in Europe and the US apart from other states in India.The company would set up 200 five-star rooms and another 300 four-star rooms in Tamil Nadu through the three projects, according to Palani G Periasamy, chairman of Appu Hotels.With the two hotels in Chennai and Coimbatore, it is currently offering around 510 rooms. “We intent to remain in the five and four-star hospitality segments. Our aim is to increase the total number of rooms to 1,000 by 2015,” Periasamy was quoted saying. Of the three projects, it is expected to complete the INR 200-crore high-end beach resort, Le Meridian Resorts and Spa, coming up between Chennai and Mahabalipuram, by 2012. The report added that it had commissioned consultants from the US, United Kingdom, Singapore and Thailand to work on the project.The report added that the company was also preparing to issue an initial public offering.Appu Hotels started operations of its hotel in Coimbatore with 255 rooms, from April, 2011.
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