UNITED STATES                            OMB APPROVAL
      SECURITIES AND EXCHANGE COMMISSION                OMB  NUMBER:  3235-0058
            Washington, D.C. 20549              Expires:          May 31, 1997
                                                Estimated average burden
                  FORM 12B-25                   hours per
                                                response..................2.50


          NOTIFICATION OF LATE FILING                   SEC FILE NUMBER
                                                            0-15347

                                                          CUSIP NUMBER
                                                                
(Check One):   [x] Form 10-K  [ ] Form 20-F  [ ]  Form 11-K     [ ] Form 10-Q   [ ]Form N-SAR

          [  ]  Transition Report on Form 10-K
          [  ]  Transition Report on Form 20-F
          [  ]  Transition Report on Form 11-K
          [  ]  Transition Report on Form 10-Q
          [  ]  Transition Report on Form N-SAR
          For the Transition Period Ended: 


    Read Instruction (on back page) Before Preparing Form. Please Print or Type.
  NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY THAT THE COMMISSION HAS 
                      VERIFIED ANY INFORMATION CONTAINED HEREIN.


If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:


________________________________________________________________________________

PART I - REGISTRANT INFORMATION

Growth Hotel Investors   
________________________________________________________________________________
Full Name of Registrant

________________________________________________________________________________
Former Name if Applicable

One Insignia Financial Plaza
________________________________________________________________________________
Address of Principal Executive Office (Street and Number)

Greenville, South Carolina 29602
________________________________________________________________________________
City, State and Zip Code

PART II - RULES 12B-25(B) AND (C)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed.  (Check box if appropriate).

     (a)  The reasons described in reasonable detail in Part III of this form 
    could not be eliminated without unreasonable effort or expense;

     (b)  The subject annual report, semi-annual report, transition report on 
    Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be filed 
    on or before the fifteenth calendar day following the prescribed due date; 
[X] or the subject quarterly report of transition report on Form 10-Q, or 
    portion thereof will be filed on or before the fifth calendar day following 
    the prescribed due date; and

     (c)  The accountant's statement or other exhibit required by Rule 12b-25(c)
    has been attached if applicable.

PART III - NARRATIVE

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof , could not be filed within
the prescribed time period.

                                                                 SEC 1344 (6/94)

The Form 10-K for December 31, 1997 will be prepared on the liquidation basis of
accounting.  The Partnership is in the process of winding up its operations and
requests additional time to appropriately estimate the costs to be incurred in
its last stages of operation.  The details associated with the Partnership's
sale of its investments have been reported in the Form 10-Q's filed for June and
September 1997.



PART IV - OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this 
    notification.

    Louise Fletcher   864          239-1541
________________________________________________________________________________
    (Name)        (Area Code) (Telephone Number)

(2) Have all other periodic reports required under Section 13 or 15(d) of the 
    Securities Exchange Act of 1934 or section 30 of the Investment Company
    Act of 1940 during the preceding 12 months or for such shorter period that 
    the registrant was required to file such report(s) been filed?  If answer
                                                                [X] Yes   [ ] No
________________________________________________________________________________

(3) Is it anticipated that any significant change in results of operations from 
    the corresponding period for the last fiscal year will be reflected by the 
    earnings statements to be included in the subject report or portion thereof?
                                                                [X] Yes   [ ] No

    If so, attach an explanation of the anticipated change, both narratively and
    quantitatively, and, if appropriate state the reasons why a reasonable 
    estimate of the results cannot be made.

   See Part III - Narrative
________________________________________________________________________________


Growth Hotel Investors
________________________________________________________________________________
              (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

Date March 31, 1998      By: /s/ William H. Jarrard, Jr., President & Director
________________________________________________________________________________

INSTRUCTION:  The form may be signed by an executive officer of the registrant
or by any other duly authorized representative.  The name and title of the
person signing the form shall be typed or printed beneath the signature.  If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.

                                   ATTENTION

INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL
VIOLATIONS (SEE 18 U.S.C. 1001).


                              GENERAL INSTRUCTIONS

1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General Rules
   and Regulations under the Securities Exchange Act of 1934.

2.  One signed original and four conformed copies of this form and amendments
    thereto must be completed and filed with the Securities and Exchange 
    Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the 
    General Rules and Regulations under the Act.  The information contained in 
    or filed with the form will be made a matter of public record in the 
    Commission files.

3.  A manually signed copy of the form and amendments thereto shall be filed 
    with each national securities exchange on which any class of securities of 
    the registrant is registered.

4.  Amendments to the notifications must also be filed on form 12b-25 but need 
    not restate information that has been correctly furnished.  The form shall 
    be clearly identified as an amended notification.

5.  ELECTRONIC FILERS.  This form shall not be used by electronic filers unable
    to timely file a report solely due to electronic difficulties.  Filers 
    unable to submit a report within the time period prescribed due to 
    difficulties in electronic filing should comply with either Rule 201 or 
    Rule 202 of Regulation S-T ('232.201 or  '232.202 of this chapter) or apply 
    for an adjustment in filing date pursuant to Rule 13(b) of Regulation S-T 
    ('232.13(b) of this chapter).