Hospitality firm Hotel Leelaventure is adopting an asset-light strategy for future growth with more properties being taken under the management contract model.
The company has 9 hotels out of which 5 are owned and managed by it while 4 are only managed by the Mumbai-based hospitality provider.
The company plans to manage a hotel in Bengaluru, a vila resort in Jaipur, a hotel in Chandigarh and a hotel in Kathmandu, Nepal as part of its asset-light strategy for future growth, Hotel Leelaventure said in a presentation to the BSE.
The company is also "in the process of selling its land in Agra to an investor who proposes to build a hotel and sign a management contract with the company to manage it under the Leela Palace brand," it added.
"The company is also deleveraging through monetisation of the non-core assets," Hotel Leelaventure said.
Shares of Hotel Leelaventure today closed at Rs 17.45 per scrip on BSE, up 1.45 per cent from its previous close.
