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business Apr, 22 2014

Leela Group to sell properties

To sell Delhi and Chennai hotels to pare debt.

By Franchise India Bureau
Leela Group to sell properties

Leela Group to sell its Delhi and Chennai hotels. The investor may pick up 74 percent stake leaving 26 percent to Leelaventure which will continue to manage the five-star hotels.

The group is in talks with sovereign wealth funds of Abu Dhabi, Qatar and Malaysia to sell its hotels at around Rs 1850 crore to pare debt stated a media report.

Related: Wow! Momo determined to achieve Rs 500 cr turnover in 5 years

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