India: Hotel Leelaventure may sell 24% stake to a financial investor to cut debt

Hotel Leelaventure chairman Vivek Nair said his firm would have at least 14 hotels with over 2,200 rooms under management contract in the next one-two years, apart from five hotels of its own. Photo: Hemant Mishra/Mint

Hotel Leelaventure Ltd may sell at least 24% stake to a financial investor to reduce debt as it charts an asset-light model for expansion, the luxury hotel chain’s top executive said.

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