Investment Plans: Hotel Leelaventure

Hospitality chain Hotel Leelaventure is considering new properties at Agra, Ashtamudi, Jaipur, Bangalore and Noida. Besides, its 326-room new property in Chennai is expected to be completed by the third quarter of the current financial year.

The details of new properties as follows:

The hotel group is considering to build a 5-Star deluxe hotel at Agra with a co- investor with a room capacity of 110, all of which will face the Taj Mahal.

The hospitality chain is also considering to set up a luxury resort of 15 floating villas and 25 other villas totalling to 40 rooms with a co-investor at Ashtamudi in Kerala.

It has signed a management contract for its new Jaipur property,. It will be a a 58 villa resort and development of the project is being undertaken.

A letter of intent (LoI) has been signed with Bharatiya Group which is developing a multi-use complex in a SEZ of 120 acres. The project envisages a Leela Hotel with 250 guest rooms, Leela Residences with 150 residences and a convention centre admeasuring about 45,000 square feet, all to be managed byGroup

In Noida an LOI has been signed with one of the leading developers, who are setting up a mixed use complex admeasuring about 70,000 sq mtrs. The project envisages the Leela Palace Hotel with 250 guest-rooms and the Leela residences with 100 units.

Source: ET