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  1. Hotel Leelaventure adopting asset-light strategy for growth

Hotel Leelaventure adopting asset-light strategy for growth

Hospitality firm Hotel Leelaventure is adopting an asset-light strategy for future growth with more properties being taken under the management contract model.

By: | New Delhi | Published: June 27, 2016 7:42 PM
The company has 9 hotels out of which 5 are owned and managed by it while 4 are only managed by the Mumbai-based hospitality provider. (Source: Website) The company has 9 hotels out of which 5 are owned and managed by it while 4 are only managed by the Mumbai-based hospitality provider. (Source: Website)

Hospitality firm Hotel Leelaventure is adopting an asset-light strategy for future growth with more properties being taken under the management contract model.

The company has 9 hotels out of which 5 are owned and managed by it while 4 are only managed by the Mumbai-based hospitality provider.

The company plans to manage a hotel in Bengaluru, a vila resort in Jaipur, a hotel in Chandigarh and a hotel in Kathmandu, Nepal as part of its asset-light strategy for future growth, Hotel Leelaventure said in a presentation to the BSE.

Also Read: Hotel Leelaventure shares gain over 3% on selling its Goa hotel for Rs 725 crore

The company is also “in the process of selling its land in Agra to an investor who proposes to build a hotel and sign a management contract with the company to manage it under the Leela Palace brand,” it added.

“The company is also deleveraging through monetisation of the non-core assets,” Hotel Leelaventure said.

Shares of Hotel Leelaventure today closed at Rs 17.45 per scrip on BSE, up 1.45 per cent from its previous close.

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