Brookfield-controlled Leela Palaces acquires South India luxury resort Leela Palaces Hotels and Resorts Ltd, a luxury hospitality chain majority owned by Canadian investment firm Brookfield, has acquired an ultra-luxury resort in Karnataka’s Coorg region for Rs 560 crore ($60.8 million). The deal marks the company’s entry into nature-led hospitality, with the property set to be rebranded as The Leela Coorg Forest Sanctuary later this year. The resort, located near Madikeri in the Western Ghats, is positioned close to Bengaluru and Mangaluru, and is renowned for its coffee estates, misty hills, waterfalls, and Kodava cultural heritage. The 71-villa property spans 76 acres and includes significant land reserves for future development. The first phase of the project will add 19 villas, bringing the total inventory to 90. Leela’s CEO, Anuraag Bhatnagar, emphasized the company’s focus on destinations with cultural and ecological value, stating that the acquisition strengthens Leela’s presence in South India and supports its strategy of expanding across iconic Indian landscapes. In parallel, Leela’s board approved an investment of Rs 231 crore in its subsidiary, Leela Luxe Hotels & Resorts Pvt Ltd. The funds will be allocated for acquisitions, development, expansion, refurbishments, capital expenditures, and working capital needs. The Coorg acquisition brings Leela’s portfolio to 15 properties with over 4,160 keys across 13 cities globally, including seven owned, seven managed, and one franchised hotel. The company aims to increase its holdings to 24 properties within three years, with nine projects currently in the pipeline. Leela competes with major hospitality players such as Indian Hotels Co. (Taj Hotels), ITC Hotels, EIH Ltd (Oberoi Hotels), Chalet Hotels, and Ventive Hospitality Ltd, which is backed by Blackstone.#brookfield #leela_palaces #coorg #madikeri #western_ghats
