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Velan Hotels Ltd. Company History and Annual Growth Details

Velan Hotels Ltd (VHL) was incorporated as a private limited Company on March 21,1990 and was later converted into a public limited company on June 15,1992. The Company was established for the purpose of operating hotel and other tourism related services. VHL had proposed to set up Hotel Greenfields at South Tirupur with 68 rooms, at an estimated cost of Rs.500 lakhs and commence commercial operations by October, 1992. Due to unforeseen circumstances like communal disturbances, there was delay in implementing the project and there were cost and time overruns. Meanwhile, to attract foreign business travellers, the Company also decided to upgrade facilities and increase accommodation. The hotel commenced operations in stages as under:

July, 1993 Commercial operations of 40 rooms,
speciality restaurant and swimming pool.

September 1993 Commissioning of additional 22 rooms, bar
and health club.

July 1994 Modern power semi automatic laundry

September 1994 Commissioning of 8 deluxe suites.

2011
-Velan Hotels Ltd Issues Rights in the Ratio of 69:20

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