Brookfield Asset Management-run luxury hotel chain Leela has filed draft papers for a Rs 5,000-crore initial public offering (IPO). The share sale aims to raise Rs 3,000 crore for debt repayment, while Brookfield will sell shares worth Rs 2,000 crore. This marks the second Brookfield-managed entity to go public in India.
Current Portfolio
As of May 31, 2024, Leela’s portfolio includes 3,382 rooms across 12 operational hotels, categorized into three formats: The Leela Palaces, The Leela Hotels, and The Leela Resorts.
Expansion Plans
Leela intends to expand its hotel portfolio by adding eight new hotels, which will increase its room capacity by approximately 24.63% (833 rooms) by 2028. Planned locations include Agra, Srinagar, and Sikkim, as well as resorts in wildlife sanctuaries like Ranthambore and Bandhavgarh.
New Developments
In early 2024, Leela announced a joint venture with Abhinandan Lodha Group to develop a modern palace hotel in Ayodhya, close to the Shri Ram Janmabhoomi temple.
Strategic Focus
Leela’s growth strategy emphasizes diversification into emerging segments such as wildlife, spiritual, and heritage tourism, expanding its geographical reach across various cities and tourist destinations.