Tag Archives: Vivek Nair

Hotel Leela Venture to sell hotels to Brookfield for Rs 3950 crore

Hotel Leela Venture Limited (HLVL) has entered into a binding agreement with a Brookfield Asset Management (Brookfield) sponsored private real estate fund, to sell by way of slump sale, four owned Leela hotels located in Bengaluru, Chennai, Delhi and Udaipur and the property that it owns in Agra. The transaction also includes assignment of all Hotel Management contracts currently in operation as well as all management contracts for hotels which are currently under development, along with the employees of the hotels. The total transaction value is Rs 3950 crore plus the applicable transaction costs. This is subject to approval of shareholders, lenders and other regulatory and statutory approvals. Simultaneously, the promoters who own the Leela brand would also be transferring the Leela brand to Brookfield for all hospitality businesses. JM Financial Limited acted as the exclusive financial advisor to HLVL for this transaction. Commenting on the transaction, Vivek Nair, Chairman and Managing Director, HLVL said, “The Leela is rated amongst the top hospitality brands in the world and I am confident that the brand will receive a boost and be further strengthened and continue to be known for its world-class services.” Ankur Gupta, Managing Director and Head-India Real Estate, Brookfield Asset Management remarked, “The Leela is one of the finest hospitality groups in India and over the years it has gained extraordinary recognition from some of the most prestigious authorities on travel and luxury in the world. We are excited with this opportunity and look forward to completing this transaction at the earliest, while ensuring that all operations remain unaffected.  We expect the Leela hotels to continue to be market leaders.”

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Leela to manage Mahatma Mandir and launch 300-key The Leela Gandhinagar

The Leela Palaces, Hotels and Resorts will now operate and manage the Mahatma Mandir, the country’s largest convention and exhibition centre after winning the competitive bid and management contract. The brand will also launch The Leela Gandhinagar, a 300 room property expected to be the largest property in Gujarat’s capital city, informed Vivek Nair, Chairman and Managing Director, The Leela Palaces, Hotels and Resorts. Commenting on the development, Nair said, “The addition of Mahatma Mandir and The Leela Gandhinagar to our MiCE portfolio reinforces our plans to expand further into the international conferences and events space. Together with the support of the Government of Gujarat, our endeavour is to help transform Gandhinagar into the convention capital of India.” The agreement, effective from April 1, 2018 has been signed with Gandhinagar Railway and Urban Development Corporation (GARUD)—a special purpose vehicle formed by the Government of Gujarat with the Indian Railway Stations Development Corporation (IRSDC). R K Beniwal, Managing Director, Gandhinagar Railway and Urban Development Corporation said, “We are confident that The Leela Gandhinagar and Mahatma Mandir Convention and Exhibition Centre will be ably managed for a wider global distribution and accentuated positioning in the international and domestic MiCE market.” The 34-acre Mahatma Mandir Convention and exhibition Centre is a world-class facility for national and international conferences, exhibitions and events.

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Vivek Nair felicitates Minister of Civil Aviation, Suresh Prabhu

Vivek Nair, Chairman and Managing Director, The Leela Palaces, Hotels and Resorts has felicitated Suresh Prabhu, Minister of Commerce and Industry, Government of India, who has also assumed the additional charge of Minister of Civil Aviation in a special ceremony organised recently at The Leela Palace New Delhi. Nair commented, “Civil aviation and tourism have to go hand in hand and only then can the industry grow. Now we have a new minister, who is known for his dynamism and we invite him to boost the synergies between the two sectors.” The ceremony saw in attendance the who’s who of the hospitality, tourism and services industry. The stakeholders of the industry put forth their views and suggestions to the minister for his consideration. Prabhu commented, “Today it is a trillion dollar economy knocking at our doors. We have to understand that one has to create concrete plans based upon the larger impact it will have on the common people. With one tourist in India, 15 jobs both direct and indirect can be created.”

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51st FHRAI Convention begins in Indore

The 51st FHRAI Annual Convention kicked off at the Amber Convention Centre in Indore, Madhya Pradesh. The event was inaugurated by Vishvas Sarang, Minister (I/C) for Cooperation, Bhopal Gas Tragedy Relief & Rehabilitation, Panchayat & Rural development, Malini Laxman Singh Gaur, Mayor of Indore; Vivek Nair, Chairman, Convention Organizing Committee, FHRAI and Bharat Malkani, President, FHRAI. Radisson Blu Hotel Indore is the venue for all the business sessions which will be conducted on September 23 and 24, 2016, and the FHRAI awards will be held on Sept 24, 2016, at the Amber Convention Centre. The theme for the convention ‘Brand India’ is inspired by Prime Minister Narendra Modi’s vision based on the 5T’s – Talent, Tradition, Tourism, Trade and Technology. The convention logo brings together the symbol of a flaming torch and the welcome gesture of ‘Namaste’. Welcoming all participants at the convention, Nair said that there is a need to create infrastructure to boost tourism in the country. He also said that GST should be relooked at a reasonable limit. Malkhani noted that FHRAI completed six decades of existence and the focus of the organisation is on skill development. The association has institued a study with the National Green Tribunal to bring out a book to run properties in a sustainable manner, which will be given to its members free of cost.

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