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.
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The hotel sector seems to be booming, or so says Rajeev Kaul, the president of Hotel Leela Ventures.
Speaking to CNBC-TV18, he said,"It will be less competitive to our neighboring countries. Foreign tourists are going to Singapore, Malaysia, Indonesia, because they only apply a 3% GST on room charges, whereas with this, in India it will come to almost 18%."