With talks of sale of a prime hotel property in the city doing the rounds on Monday, Ceebros Managing Director C. Subba Reddy said they were in talks with the group that owned the property. The property in question is the Hotel Crowne Plaza, formerly known in the city as Adyar Park, Park Sheraton and Adyar Gate hotel.
“Yes, we are in talks. We are looking at developing a high-end residential project there,” he said. “Since this place is right next to the Boat Club Road, Ceebros intends to build a high end property here,” said a source who was aware of the development.
Sources close to the holding company, Adyar Gate Hotel Ltd., said they had not signed any deal with anyone so far. The hotel was being managed by the Intercontinental Hotels Group.
Sources at the hotel did not confirm news of the sale. In fact, allaying fears among guests about the running of the hotel, they said hotel operations would not be affected in any manner due to these talks in the market.
The hotel, whose Dakshin restaurant is famous for its South Indian fare, is a favourite among the Indian Cricket team and also IPL team managers. The hotel had hosted 33 AIADMK MLAs after the demise of former Chief Minister M.G. Ramachandran, recalled a former party leader.
