Brookfield Asset Management plans to publicly list its luxurious hotel chain, The Leela Palaces, Hotels & Resorts and is presently in talks with reputed bankers to facilitate the process.
In a deal in October 2019, the company sold its hotel properties and operations as well as hotel assets located in New Delhi, Bengaluru, Chennai, Udaipur to Canada-based Brookfield Asset Management, marking the entry of Brookfield in India’s hospitality market.
In 2019, Brookfield had previously committed to investing over INR 1,500 crore in the hotel chain, following a significant investment of INR 4,500 crore. The latter investment was the largest-ever foreign investment in the Indian hospitality industry.
Brookfield Corporation is a Canadian multinational company that is one of the world’s largest alternative investment management companies, with over US$725 billion of assets under management.
If the listing takes place, it could offer investors an opportunity to invest in one of India’s most reputed luxury hotel chains. It would also provide The Leela Palaces, Hotels & Resorts with greater access to public funding, which could be utilized to expand its portfolio further and strengthen its market position.
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