The Leela Unveils Grand Expansion - 7 New Luxury Hotels by 2028, IPO Set to Raise INR 3500 Crore

A Legacy Reimagined for the Future

In a bold stride toward global prominence, The Leela Palaces, Hotels and Resorts, owned by Brookfield Asset Management, is said to be preparing a significant expansion of its luxury portfolio - both within India and abroad.

With seven new properties slated to launch by 2028, the brand is poised to introduce over 678 exquisite keys, a strategic 19% portfolio expansion that speaks to its confidence in evolving ultra-luxury travel trends.

Curated Destinations, Thoughtful Design

According to Ankur Gupta, Managing Partner and Head of Asia Pacific & Middle East at Brookfield Asset Management, the upcoming properties would span heritage-rich cities, spiritual havens, wellness retreats, and nature-led locales. Each destination, it was said, would celebrate The Leela’s hallmark - immersive experiences anchored in refined service, indigenous storytelling, and iconic architecture.

These new additions are expected to be a combination of owned, managed, and franchised models, now in various stages of acquisition and development.

Over the past six years, The Leela has grown from 8 to 13 carefully positioned properties, increasing its total inventory from 2,495 to 3,553 keys. With five wholly owned assets, seven under management contracts, and one operated under a franchise model, the portfolio showcases The Leela’s flexibility and foresight in navigating the evolving luxury landscape.

A Global Gaze: Maldives & Dubai on the Horizon

In a statement that hints at the brand’s ambitions beyond the subcontinent, The Leela was reportedly exploring luxury markets in global lifestyle destinations like the Maldives and Dubai - regions where Indian luxury hospitality remains underrepresented. The move would not only elevate the brand’s visibility on the international stage but also cater to its growing global clientele who seek the sophistication of Indian luxury in foreign settings.

IPO Offering: A Capital Move for a Grand Vision

To support this transformative journey, Schloss Bangalore, the operator of The Leela brand, is launching a ?3,500 crore IPO. The public offering, which opens on May 26 and closes May 28, is expected to be priced between ?413-?435 per share. Comprising a ?2,500 crore fresh issue and a ?1,000 crore stake sale by promoter Project Ballet Bangalore Holdings, the IPO has already been trimmed from its original ?5,000 crore size - reflecting stronger-than-expected cash flows over the past 12 months.

The capital raised will likely enable the brand to fortify its expansion pipeline, elevate guest experiences, and further consolidate its presence in India’s flourishing high-end hospitality sector.

With bespoke craftsmanship, architectural depth, and cultural resonance, The Leela continues to redefine luxury - one destination at a time.