GRT Hotels & Resorts has acquired the five-star Asiana Hotel located on Old Mahabalipuram Road (OMR) in Chennai for INR 153 crore, according to sources familiar with the deal. The transaction was completed in March 2025.
The hospitality group plans to invest an additional INR 100 crore to renovate the 178-room property, which has remained non-operational for nearly six years due to protracted legal disputes.
A senior source at GRT Hotels said the company aims to reopen the hotel—at least partially—with 50–60 rooms by March 2026. The property is also expected to be rebranded through a tie-up with an international hospitality brand, with Hilton or Marriott among the contenders.
Once operational, Asiana will mark GRT Hotels’ 25th property, expanding its growing footprint across South India. The move aligns with the group’s strategy to strengthen its presence in key metro markets through acquisitions and partnerships with global brands.
source : TOI
