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Residency Towers Opens In Chennai

Our Regional Bureau  |  BUSINESS STANDARD 

The four-star hotel will have a single tariff of Rs 2,500 for both foreigners and Indian guests.

The Rs 71-crore Residency group based out of Chennai has launched its first premium four-star hotel, Residency Towers, in the city.

The new facility in the heart of the city is a 50:50 joint venture between the Delhi-based Sood & Sood Builders and SAS Hotels Enterprises, the hospitality arm of the Appaswamy Group.

Ravi Appaswamy, the managing director of Residency Group of Hotels, said on the occasion: "Residency Towers has been built at a cost of Rs 50 crore. We expect this new project to break even within six years.

First Published: Mon, April 07 2003. 00:00 IST