The Leela Goa sale

Hotel Leela Venture Limited (HLVL), announced that (subject to regulatory approvals and specific conditions being met) it has entered into a Business Transfer Agreement (BTA) to sell The Leela Goa to MetTubeSdn. Bhd., Malaysia. Ceres Hotels Private Limited, a wholly owned Indian subsidiary of MetTube, agreed to acquire the Goa Hotel for a total consideration of Rs725 crore. The Goa Hotel would be transferred to Ceres by way of a slump sale under the BTA subject to satisfaction of certain conditions precedent, including regulatory approvals.Pursuant to a Hotel Management Agreement, HLVL shall manage and operate it and it shall continue to be known as the “The Leela Goa.”
The Leela Goa blends local culture with the region’s Portuguese heritage. The 206-room Leela Goa is spread across 50 acres with direct access to Mobor beach. The resort has the advantage of being on the banks of river Sal at the far-side of the property. With facilities including a premier spa, 12-hole golf course, private beach and several award-winning restaurants, The Leela Goa promises its guests an indulgent and relaxing stay. The property’s unique location, world-class facilities and outstanding service, consistently make it one of the finest hotels in India today.