The 34-year-old The Residency Hotels, owned by Chennai-based Appasamy Group, a real estate developer, has launched The Residency Signature, a luxury hotel-cum-convention centre in Madurai, with an investment of about ₹450 crore, betting on the city’s growing potential as a destination for MICE tourism, weddings, large social events and spiritual travel, said Rohit Ravi Appaswamy – MD, The Residency Hotels and Appaswamy Real Estates Limited.
It will be the 8th hotel from the group, which already runs two hotels in Chennai; two in Puducherry; one each in Karur, Coimbatore and Rameshwaram. In addition, the group owns a hotel in Maldives which is managed by Marriott, the St Regis Vommuli Island, he told businessline.
Spread across seven acres and nearly five lakh square feet, the Madurai hotel features 186 guest rooms, banquet and event spaces, and suites. It also houses a dedicated convention centre, positioning itself as a major destination for meetings, incentives, conferences and exhibitions (MICE), weddings and large social gatherings.