Reduce available hard drive space after having already provisioned it?

The following is a scenario...

Say that I have already provisioned a VMware based virtual server to have 250 GB of a physical host's total 500 GB hard drive space.  And that this server has been used for a few months, but has not had its actual hard drive capacity (windows visible) used beyond 70gb.

I would like to move this VM to a server that has more RAM and compute, but that only has 220 GB of physical hard drive space left.  Is it possible to edit the virtual machine settings to reduce its hard drive capacity from 250 to say 160 GB, so that it can be accommodated by the new host I would like to move it to?

Or is it not possible to reduce virtual hard drives after the fact?

Who is Participating?
Andrew Hancock (VMware vExpert / EE MVE^2)Connect With a Mentor VMware and Virtualization ConsultantCommented:
There is not really a method of reducing a virtual hard disk from the vSphere Client GUI, it's often better advised to start small and grow, because shrinking is complicated.

either use my EE Articles as posted in http:#a40013185, or the other only supported method is to use a V2V using VMware vCenter Converter Standalone 5.5

whichever method you use make sure you have a FULL BACKUP, before you start any disk or partition change. (not a snapshot!)

see my other EE Articles

HOW TO: FAQ VMware P2V Troubleshooting

HOW TO:  P2V, V2V for FREE - VMware vCenter Converter Standalone 5.5
Zephyr ICTConnect With a Mentor Cloud ArchitectCommented:

It's possible yes, it's not really always "fast" process though...

Our very own Andrew Hancock has a few articles that might help.

This one:

Or a more recent article from Andrew might help as well, it's a faster way to do it:
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