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Luxury operator sells Goa hotel to cut debt

Profile Photo By: Steve Shellum
September 21, 2015

Luxury operator sells Goa hotel to cut debt

India?s Hotel Leelaventure has agreed to sell a hotel in Goa to a Malaysian company for 7.25 billion rupees (US$111 million) as the luxury hotels operator strives to cut its debt.
Leelaventure will sell the 206-room hotel to a unit of MetTube but will continue to manage it under a contract.
Leelaventure expects the deal, which it said was the biggest single-asset acquisition in India?s hospitality sector, to close by end-December.
The Goa hotel accounted for 15 percent of its total income for the last financial year to March 31.

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