Brookfield Strategic Real Estate Partners III, a fund managed by Canada’s Brookfield Asset Management, signed an agreement to purchase luxury hotel brand Leela Palaces and Resorts Limited from the holding company Hotel Leela Venture. The deal includes four luxury hotels located at Delhi, Chennai, Bangalore, and Udaipur, a land parcel for hotel development in Agra, as well as rights to the brand name, ‘The Leela‘, for $576 million.
The transaction includes all assets and liabilities related to the properties, management contracts for all hotels in operation, as well as contracts for hotels under development. Hotel Leela Venture expects to complete the deal in three to six months’ time, subject to shareholder and regulatory approvals.
The Canadian private equity firm already has $3.5 billion of assets under management in India, including 25 million square feet of office space. Brookfield senior vice president Ankur Gupta said earlier this year that the company will also look for opportunities in rental housing and logistics real estate projects in the country.
Last updated: December 26th, 2025
