We expect to have tie-ups for four additional hotels under management contracts, which we will finalise in a few months,” he said.

The company is also looking at launching Leela residences in partnership with Supertech to provide luxury service apartments.

The Leela Group will also tie-up with private equity investors to develop properties in Agra and Lake Ashtamudi in Kerala, where the group already owns land. In the property at Agra, each room would be facing the Taj Mahal. Located at a distance of 1.1 km away from the iconic monument, this is pegged as the

On whether the company plans to convert its entire business model to only management contracts, Nair revealed, “Hotel companies globally are doing so and keeping only a few trophy assets. We may also go for a mix of both management and ownership in the long term. Our next cycle of growth is only through management contracts.”

The group also mulls to raise 700 crore by selling its non-core assets. The company is looking at sale of land parcels in Hyderabad, Pune, Bengaluru and a business park in Chennai to reduce its debt burden.