The shimmering five-star hotel adjacent to the Golf course on Bengaluru's Sankey road, Le Meridien, will soon become a memory as the Embassy group plans to demolish the iconic property. Being one of the oldest hotels in the luxury class with 197 rooms and 30 suites, Le Merdian has been a venue for all occasions and has catered to the top celebrities ranging from movie stars to top-shot politicians.
Real estate firm Embassy Group owned by Jitu Virwani is planning to knock down the building and construct an office space of close to 0.4 million sqft in the 2.5-acre land, the Times of India reported. The fortunes changed after the Embassy group bought a 73.4 percent stake in Mac Charles Hotels Pvt Ltd, the owners of the luxury hotel. The stake was bought from investor CB Pardhanani in a deal which had valued the property at Rs 870 crore.
According to the report, the hotel will be demolished this year and the group is likely to construct a new building next year. Since the stakes were bought by Embassy, there were talks on demolition as the chairman of Embassy, Virwani, had earlier said that they might turn it into an office space or a residential tower.