hyderabad the relentless efforts of gmr hotels and resorts limited to sell its novotel hotel at shamshabad have hit another roadblock with the telangana government shooting down the companys proposal to sell the property the group has been told to have the hotel property reassessed and make a fresh attempt for getting good bids this is second time that the state government thwarted the proposal gmr hotels and resorts limited ghrl a 100 subsidiary of gmr hyderabad international airport limited ghial owns and operates a 305room four star business hotel at the hyderabad airport owing to huge losses due to poor occupancy rate the group has been planning to divest 100 equity stake in ghrl the hotel was initially part of ghial and was subsequently demerged into ghrl on april 1 2009 the hotel is now being managed by the accor group under the novotel brand ghrl has been saying that the hotel is making huge losses for the past few years for disposing this property ghrl engaged ms hvs international as transaction advisor in 2013 and even called for expression of interest eoi for divesting the property sources said the gmr board of directors approved the bidding process on january 24 2013 official sources said for acquiring the hotel interglobe presented a bid for rs 21350 crore while another company mahaan buildcon group offered rs 200 crorebesides the main binding bids the company received nonbinding bids from samhi group for rs 160 crore sea valley resorts varun group also for rs 160 crore and brigade hospitality for rs 110 crore the transac tion could not be completed as both inter globe and mahaan groups did not agree on certain conditions especially those relating to commercial and legal clauses apart from this the then infrastructure and investment department secretary mt krishna babu objected at the board meeting held in october 2014 saying the bidding process was not transparent and no advertisements were published in newspapers regarding the intended sale based on his remarks ghrl issued advertisements in two dailies this january the company had then said it would go ahead with the bidding process and gmr airport limited gal which is a subsidiary of gmr infrastructure limited would acquire the property for the previous highest bid of rs 21350 crore if no firm comes forward in the fresh bidding process the company issued ad vertisements in one telugu and one english newspaperhowever the advertisements did not provide any details or description of the property they said in the advertisement that one star hotel being run by a prestigious company is up for sale and interested parties can contact the address given in the advertisement it did not provide details either about the property and its description or about the group which is selling the hotel there was no response to the advertisement issued in january an official of industries department said based on the nil response ghrl chief financial officer wrote a letter to the