MGM Hospital buys Le Meridien Chennai

The Le Meridien hotels in Chennai and Coimbatore are likely to be turned into hospitals, due to a change in ownership. MGM Healthcare Private Ltd, which runs the MGM Hospital in Chennai, has reportedly purchased Appu Hotels Ltd, which owns Le Meridien in Chennai and Coimbatore, for Rs 423 crore. According to reports, the National Company Law Tribunal (NCLT) approved MK Rajagopalan, chairperson and MD of MGM Healthcare’s bid to take over Appu Hotels. In 2020, the National Company Law Tribunal had admitted an insolvency petition against Appu Hotels Ltd in a case filed by the Tourism Finance Corporation of India Ltd.