Minor Out of Race for India's Leela Luxury Hotels as Brookfield Closes In
Skift Take
Leela Hotels would be nice for anyone to have, because of its storied name and luxurious feel. Minor backing off shows its discipline in investing.
Thailand’s Minor International says it is not looking at Leela anymore as reports surfaced last month that Canada’s Brookfield Asset Management is close to buying a majority of the Indian chain’s hotel assets for $646 million (4,500 crore).
At that price “we won’t be able to look at it, the numbers don’t work for us,” Minor International’s COO and Minor Hotels’ CEO, Dillip Rajakarier, told Skift in a phone interview.
Minor and investment firm Trinity White City Ventures were considering a bid of $350 million for Hotel Leelaventure last November. The consortium was waiting in the wings as Brookfield has the exclusivity and has been exercising due diligence for some si
