Viceroy Hotels to Spin Off Chennai Projects | wsj.com

Viceroy Hotels Ltd, a franchisee of global hospitality major Marriott International Inc, said it will hive off its 5.6-billion-rupee Chennai project division to raise cash. The company on Monday, in a filing with the Bombay Stock Exchange, said its board approved of the move to sell the unit that includes its 387-room luxury hotel and residential projects in Chennai.