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.
You might also like
Indulge in Adventures and Excursions at One&Only Cape Town, South Africa
Central to exciting adventure and entertainment, One&Only Cape Town is an ideal gateway to the thrilling experiences of South Africa such as wildlife safaris, wine country excursions and endless water
India remains fastest growing domestic aviation market in 2017: IATA
India remained the world’s fastest growing domestic aviation market for the third straight year in 2017 as economic and network expansion bolstered the sector, according to global airlines’ body IATA.
Qatar Airways to resume flights to the Maldives
The airline will also resume flights this month to Addis Ababa, Antalya, Bodrum, Djibouti, Helsinki and Istanbul Sabiha Gökçen The airlines’ network will expand to more than 450 weekly flights to
