In a bid to reduce its debt burden, hospitality chain Hotel Leela Venture is planning to raise Rs 700 crore by selling its non-core assets.
This sale of non-core assets - which includes selling land - is part of the company’s plan to raise around Rs 2,000 crore over the next couple of years through bonds, institutional placement of shares and rights issue.
At present, the company is having around 2,200 room inventory across eight hotels in Bangalore, Gurgaon, Mumbai, New Delhi, Chennai, Goa, Kovalam and Udaipur.
