E-PaperHotel Leelaventure News
Hotel Leelaventure completes sale of assets to Brookfield
The Rs3,950 crore deal marks the entry of Brookfield in India’s hospitality market in a big wayLeelaventure sells four of its hotel assets located in New Delhi, Bengaluru, Chennai and Udaipur along with a land parcel in Agra to Brookfield
1 min read22 Oct 2019ITC trying to take over Leela for a song: Promoters, JM Financial ARC
The NCLT will hear the rejoinder of ITC on June 24Earlier, ITC and LIC, which owns 2 percent in Leela had moved the Sebi seeking to stay the deal with Brookfield
3 min read19 Jun 2019Leela sale row: ITC seeks waiver of minimum shareholding norm
ITC alleged that large amounts will be paid to the promoters and JM Financial ARC will also benefit from the deal but the company will not receive any value Before JM Financial ARC converted its debt into equity, ITC had held 11.78% in the rival hotel company
2 min read18 Jun 2019Hotel Leelaventure gets shareholders' nod to sell hotels; to abide by Sebi directive
The hotels the sale of which shareholders have approved are in Delhi, Bengaluru, Chennai and UdaipurThe shareholders also gave their nod to the sale of the company's hotel operations undertaking and to the sale of the company's shareholding in Leela Palaces and Resorts Ltd
1 min read26 Apr 2019ITC moves NCLT seeking to cancel Hotel Leelaventure sale;hearing on June 18
JM Financial ARC had filed insolvency application against the Mumbai-based hotel chain in January, which owes around ₹5,900 crore to lendersAs per the information available with the bourses, ITC holds 7.92% stake in Hotel Leelaventure as of the December 2018 quarter
3 min read24 Apr 2019Hotel Leelaventure seeks shareholders' nod for asset sale
The Udaipur hotel undertaking will also be sold for a lumpsum consideration of ₹320 croreThe company further said its Chennai hotel will be sold to the same buyer in a similar manner for a lumpsum consideration of ₹675 crore
1 min read25 Mar 2019Hotel Leelaventure to sell 4 properties to Brookfield for ₹3,950 crore
The Brookfield-Leela deal will exclude the Mumbai hotel, some land in Hyderabad and Hotel Leelaventures' JV with Prestige DevelopersThe 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
3 min read19 Mar 2019Hotel Leelaventure Q3 profit up 8% at ₹44 cr
The company had logged a profit of ₹40.65 crore in the year-ago period, Hotel Leelaventure said in a filing to BSERevenue from operations stood at ₹209.06 crore in the latest quarter as against ₹203.61 crore in October-December 2017
1 min read12 Feb 2019Higher room tariffs are yet to sweeten return on capital for hotel chains
A combination of factors, such as low room additions and improved demand over the last three years, has led to an increase in room tariffs
2 min read7 Jan 2019Brookfield to buy Leela hotels for ₹4,500 crore
The deal will mark Brookfield Asset Management's entry into India's hospitality sector and give a major boost to Hotel Leelaventure, which had a debt of 3,799 crore as of March 2018
3 min read17 Dec 2018Popular Topics
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