The company has a debt of Rs 4659 crore as of March and expects to pare it by 50 percent by the next six months, says Vivek Nair, vice chairman & managing director, Hotel Leela Ventures.
Hotel Leela is not only in talks with sovereign funds of Abu Dhabi, Qatar and Malaysia to sell its prime properties as reported by media earlier , but with other investors as well, says Vivek Nair, vice chairman & managing director, Hotel Leela Ventures.
Nair's view comes a day after reports that the hotel chain is looking to divest its assets in a move to pare down its debt. Under the hammer are Leela Delhi, which is a 260-room property in the heart of the capital and Leela Chennai that is located in the city's MCR Nagar.
"We are just paring debt, not divesting the entire 100 percent. We will operate the hotels and have a joint venture with the investors," adds Nair.
The company has a debt of Rs 4659 crore as of March and expects to pare it by 50 percent by the next six months, adds Nair
Transcript of the interview to follow soon
Hotel Leela stock price
On April 22, 2014, at 11:09 hrs Hotel Leela Venture was quoting at Rs 21.05, down Rs 0.15, or 0.71 percent. The 52-week high of the share was Rs 22.00 and the 52-week low was Rs 14.00.
The latest book value of the company is Rs 27.22 per share. At current value, the price-to-book value of the company was 0.77.
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