Hotel Leelaventure has completed the sale of hotel in Goa, namely ‘The Leela, Goa’ on December 14, 2015, on a slump sale basis, for a lump sum consideration of Rs 725 crore.
The company’s board had earlier on September 19, 2015 approved, subject to certain conditions, including the approval of its shareholders, the sale of the entire undertaking of the company pertaining to ‘The Leela, Goa’, on a slump sale basis, for a lump sum consideration of Rs 725 crore to Ceres Hotels, by way of business transfer agreement.
Hotel Leelaventure operates hotels and resorts in India. It also operates spas; and offers facilities for meetings and events, weddings, and social celebrations. The company’s portfolio includes luxury hotels and resorts primarily in Mumbai, Bangalore, Goa, Kovalam, Gurgaon, and Udaipur.
