Leelaventure Limited sells The Leela Goa to MetTubeSdn. Bhd.

This is the largest single asset acquisition in hospitality sector in India. The hotel continues to be under the management control of Leela Palaces, Hotels & Resorts.

Hotel Leelaventure Limited (HLVL) has announced that (subject to regulatory approvals and specific conditions being met) it has entered into a Business Transfer Agreement (BTA) to sell The Leela Goa (Goa Hotel) to MetTubeSdn. Bhd., Malaysia (“MetTube”)

Ceres Hotels Private Limited (Ceres), a wholly owned Indian subsidiary of MetTube, agreed to acquire the Goa Hotel for a total consideration of Rs. 725 crores. The Goa Hotel would be transferred to Ceres by way of a slump sale under the BTA subject to satisfaction of certain conditions precedent, including regulatory approvals.

Pursuant to a Hotel Management Agreement, HLVL shall manage and operate the Goa Hotel and the hotel shall continue to be known as the ‘The Leela Goa.’

As one of India’s premier luxury properties, The Leela Goa blends local culture with the region’s Portuguese heritage. The 206-room Leela Goa is spread across lush 50 acres with direct access to the pristine Mobor beach. The resort has the advantage of being on the banks of river Sal at the far-side of the property.

About author

TnH Global
TnH Global 3877 posts

Our platform is the most comprehensive, current and accurate content destination for tourism that also offers the opportunity to connect and network with quality buyers and sellers.

Name: TnH Global              Email: admin@tnhglobal.com

You might also like

Destinations

K K Beacon Hotel opens in Rajkot

The Fern Hotels & Resorts, India’s leading environmentally sensitive hotel chain has added another hotel to its portfolio with the launch of K K Beacon Hotel, Rajkot.  This is the eighth hotel which is managed by the company under the

Travel Trade

India remains fastest growing domestic air market

The Indian domestic air travel market remains the fastest growing in the world, according to new data from the International Air Transport Association (IATA). Demand for domestic flights in India

Destinations

Indian techies welcome in Canada after Trump ban

Indian-origin tech leaders in Canada say the controversial visa and travel restrictions imposed by US President Donald Trump+ will be a boon for tech recruitment and investment in Canada. “This provides

0 Comments

No Comments Yet!

You can be first to comment this post!