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Abu Dhabi, Qatar in talks to acquire Hotel Leelaventure’s Delhi, Chennai properties

April 22, 2014 12:59 pm

Sovereign wealth funds from Abu Dhabi, Qatar are in talks with India’s Hotel Leelaventure Ltd to acquire its prime properties in Delhi and Chennai for around $140.28m to pare debt, PTI has reported. The firm, which owns, operates and manages hotels, palaces and resorts, is likely to hive-off the two properties into separate entities, said the report. As part of discussions, Hotel Leelaventure will continue to run and manage the Delhi and Chennai properties for 33 years for a fixed fee, the report said, citing industry sources.