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Potential deal with Brookfield AMC could lift spirits for Hotel Leela, hospitality sector

Infusion of Rs 4,500 crore through the proposed deal would help in taking care of the debt strengthening the balance sheet and improving returns.

December 18, 2018 / 03:03 PM IST
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Ruchi AgrawalMoneycontrol Research 


- Talks about Brookfield asset management investing Rs 4,500 crore in Hotel Leela Ventures (HLV)
- Hotel stocks rally on the news
- Deal expected to turn around HLV- Positive for the Indian hotel sector 

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As per latest reports, Brookfield asset management is planning to buy a majority stake in the loss-making Hotel Leela ventures (HLV) in an estimated Rs 4,500 crore deal. The news lifted some hotel stocks on December 17 with EIH Associated Hotels and Taj GVK Hotels and Resorts gaining 20 percent and 7 percent, respectively.