Hotel Leelaventure to sell 4 properties to Brookfield for ₹3,950 crore3 min read . Updated: 19 Mar 2019, 02:08 AM IST
- The Brookfield-Leela deal will exclude the Mumbai hotel, some land in Hyderabad and Hotel Leelaventures' JV with Prestige Developers
- The Brookfield-Leela deal will also entail buying the Leela brand, all management contracts of Hotel Leelaventure and also absorbing the employees of the four hotels
Mumbai: Canada’s Brookfield Asset Management has agreed to acquire four hotels and a land parcel from India’s Hotel Leelaventure Ltd for ₹3,950 crore, in what would be the largest-ever hotel deal by value in India. The deal culminates more than a year of talks between Brookfield and various stakeholders of debt-laden Hotel Leelaventure, which has been in the middle of financial restructuring.
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