Leela Hotels, a luxury hotel chain managed by Brookfield Asset Management, is preparing for a ₹5,000 crore initial public offering (IPO) . The company has unveiled plans to broaden its portfolio by exploring emerging sectors like wildlife, spiritual and heritage tourism. Additionally, it aims to venture into the serviced apartments sector.
This strategic move marks the second time a Brookfield-managed entity is going public in India. IPO proceeds to repay debt The upcoming IPO is expected to raise ₹3,000 crore from the market, which will be used to repay existing debt. Additionally, Brookfield plans to sell shares worth ₹2,000 crore.
As of May 31 this year, Leela's portfolio comprised 3,382 rooms across 12 operational hotels under three formats: The Leela Palaces, The Leela Hotels and The Leela Resorts. Expansion includes 8 new hotels Leela's expansion strategy involves adding eight new hotels, increasing its current room capacity by approximately 24.63%.
These proposed properties will be located in Agra, Srinagar and Sikkim , with resorts planned for the wildlife sanctuaries of Ranthambore and Bandhavgarh. Earlier this year, the company announced plans to build a modern palace hotel near the Shri Ram Janmabhoomi Temple in Ayodhya, in association with real estate developer Abhinandan Lodha Group. Leela to tap into spiritual tourism and serviced apartments Leela is set to tap into India's spiritual tourism sector, expected to grow at a compound annual growth rate (CAGR) .