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Hotel Leelaventure plans five new properties

NEW DELHI: Hospitality chain Hotel Leelaventure is considering to open five new properties to strengthen its presence across the country.

The company, which currently has seven hotels across India, is considering new properties at Agra, Ashtamudi, Jaipur, Bangalore and Noida. Besides, its 326-room new property in Chennai is expected to be completed by the third quarter of the current financial year.

In an investor presentation, the company said it is considering expansion through a mix of company-owned and managed properties.

It, however, did not specify the investments required for the new properties nor the time line for their operationalisation.

Elaborating its plans, Hotel Leelaventure said it is considering to build a 5-Star deluxe hotel at Agra with a co- investor with a room capacity of 110, all of which will face the Taj Mahal.

The hospitality chain is also considering to set up a luxury resort of 15 floating villas and 25 other villas totalling to 40 rooms with a co-investor at Ashtamudi in Kerala.

The company said for the new Jaipur property, it has signed a management contract. It will be a a 58 villa resort and development of the project is being undertaken.

It further said that for Bangalore, a letter of intent (LoI) has been signed with Bharatiya Group which is developing a multi-use complex in a SEZ of 120 acres.

The project envisages a Leela Hotel with 250 guest rooms, Leela Residences with 150 residences and a convention centre admeasuring about 45,000 square feet, all to be managed by the Leela Group, it said.

"For Noida an LOI has been signed with one of the leading developers in Noida, who are setting up a mixed use complex admeasuring about 70,000 sq mtrs. The project envisages the Leela Palace Hotel with 250 guest-rooms and the Leela residences with 100 units," it added.

The company's current properties are located in Mumbai, Goa, Bangalore, Udaipur, New Delhi, Gurgaon, and Kovlam. While some of these are company owned others are under through management contracts.

Comments (0) 09.09.2012. 17:34

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