India’s Leela Hotels Goes International: Next Stop, Dubai
Leela Palaces Hotels & Resorts has received approval from its board to acquire a 25% stake in an operational beachfront resort on Dubai’s Palm Jumeirah at approximately $49 million. The remaining 75% stake will be acquired by private funds managed by Brookfield Asset Management.
The 546-key resort will be converted into The Leela-branded resort, making this the luxury hotel chain’s first international venture. “The Palm Jumeirah is one of the most well-established and supply constrained luxury hospitality destinations in the world, with more than 5 million annual tourists and the highest concentration of $1M+ homes in Dubai,” the company said.
The resort also has 182 residences and three villas. These will also be rebranded to The Leela’s residences, a new category that the hotel chain ventured in
skift.
