Leelaventure wins Rs 611 bid for plot in Delhi

New Delhi, Apr 26: Hotel Leelaventure Ltd today said that the plot measuring 3 acres which was put to bid by National Buildings Construction Corporation Ltd (NBCC) was successfully bid by the company at a price of Rs 611 Crore.

The freehold plot is strategically located on Vinay Marg / Africa Avenue.

In a statement informing to BSE, Mr.Vivek Nair, Vice Chairman&Managing Director of the Company stated that with the successful bid for a hotel site in south Delhi, a prime location, the Group's longfelt desire to have a hotel in the nation's capital would be fulfilled.

It's flagship hotel, The Leela Palace Kempinski Bangalore has the highest average room rate in the country being in excess of 450 dollar and is the market leader in the city as is the Group's hotels in Goa and Kovalam.

With 5 new world-class hotels under construction in Gurgaon, Udaipur, Chennai, Hyderabad and Pune, the Leela Kempinski Group would have a Pan-Indian presence. Thus, it was necessary to be in Delhi, Mr. Nair added.

The Company is confident of creating another unique up-market 'trophy' hotel with 250 over-sized guestrooms and service apartments and maintains its record of being the market leader in every market that it operates in.

UNI