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Leela launches second managed hotel in Kerala
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₹3,950 crore as of March 2019. This debt was incurred to finance the company’s expansion, which included the construction of new hotels and the acquisition of other properties.
That year, Hotel Leelaventure was forced to sell its assets to Brookfield Asset Management in order to repay the debt. The sale included the company’s flagship property in Mumbai, as well as four other hotels in Delhi, Bengaluru, Chennai, and Udaipur.
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