THELEELA

By Praveen Paramasivam and Nathan Gomes

PANAJI, Feb 27 (Reuters) - India's Leela Palaces Hotels & Resorts LEEA.NS is betting that a tight supply of luxury hotel rooms and rising demand from wealthy travellers will drive revenue and earnings growth in fiscal 2027, its chief executive said.

Consumer spending in India has become more uneven, with affluent buyers continuing to splurge even as broader consumption remains under pressure, boosting sales at jewellers, whisky makers and luxury hotel chains.

Brookfield Asset Management-backed BAM.TO Leela has 23 hotels across India, including properties under development, and plans to expand to at least 35 hotels over the next five to seven years, though it has not set a firm target for launch timeline.

"We are at just a point of inflection of a multi-decade growth story in luxury consumption," CEO Anuraag Bhatnagar said in an interview on the sidelines of the Hospitality, Overview, Presentation & Exchange conference in Goa, adding that more frequent travel is boosting demand.

For the nine months ended December 31, Leela reported a 19% rise in revenue from operations to 10.43 billion rupees ($114.7 million), while core earnings increased 24% to 5.4 billion rupees.

Leela has beaten analyst expectations in each of the three quarters since its market debut in June and expects the trend to continue in fiscal 2027, Bhatnagar said. Analysts expect revenue to rise 12% to 17.07 billion rupees, according to data compiled by LSEG.

The supply of luxury hotel rooms is limited at around 30,000 keys in the world's most populous country, and a growing affluent base should help support occupancy and room rates, according to Bhatnagar.

Occupancy rose two percentage points to 71% year-over-year in the December quarter, while revenue per available room climbed 20% to 21,551 rupees.

Despite making its first overseas investment last year with the purchase of a 25% stake in a luxury beachfront resort on Dubai's Palm Jumeirah, Leela's primary focus will remain on India, Bhatnagar said.

($1 = 90.9510 Indian rupees)

(Reporting by Praveen Paramasivam and Nathan Gomes in Panaji; Editing by Dhanya Skariachan and Eileen Soreng)

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Jan 16 (Reuters) - Leela Palaces Hotels & Resorts Ltd LEEA.NS:

• Q3 CONSOL NET PROFIT 1.48 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 4.57 BILLION RUPEES

Source text: ID:nnAZN4RZMBG

Further company coverage: LEEA.NS

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** Brokerage Nirmal Bang initiates coverage on Leela Palaces Hotels & Resorts LEEA.NS with "buy" rating, sets PT at 529 rupees

** Says co structurally advantaged as a pure-play luxury brand, owning marquee city palaces and experience-led leisure assets

** Expects co to deliver like-to-like average room rate (ARR) of 9% CAGR (compound annual growth rate) over FY25-FY28E, aiding overall growth and profitability

** Adds co is improving like-to-like growth by shifting to a higher-quality mix, repurposing underutilized spaces into premium F&B/banquet/event venues and scaling ARQ (club) by Leela as a high margin, capex-light revenue layer

** Over FY25–FY28E, sees 16% revenue CAGR and 18% EBITDA CAGR

** LEEA rated "strong buy" on avg by 9 analysts covering it; median PT at 565 rupees- data compiled by LSEG

** Stock down 0.2% on the day; down ~4% since listing in June, 2025

(Reporting by Komal Salecha)

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** Shares of Leela Hotels owner Schloss Bangalore Ltd SCHL.NS climb 3.3% to 464.45 rupees

** Morgan Stanley ("overweight", PT: 562 rupees) says SCHL's RevPAR growth of 20% in Q1 is an indicator of luxury hotel segment's resilience

** Adds, SCHL posted industry-leading RevPAR in Q1

** J.P. Morgan ("overweight", PT: 510 rupees) says it likes SCHL's lead over peers in RevPAR growth, as well as stock's favourable valuations

** Co reported a lower Q1 profit on Tuesday, while rev grew 20%

** SCHL rose as much as 5.5% to record 474.40 rupees earlier in the session

** Stock up 14% since listing on June 2 and is ~7% above its IPO issue price

(Reporting by Nandan Mandayam in Bengaluru)

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Adds CEO comment in paragraph 5

July 21 (Reuters) - India's Brigade Hotel Ventures BRIA.NS set a price band of 85 to 90 rupees for its IPO, seeking a valuation of up to 34.19 billion rupees ($396.96 million), as it aims to expand its presence in the domestic hospitality sector.

The IPO of Brigade Hotel Ventures, the hospitality arm of Brigade Enterprises BRIG.NS, will open for bidding from July 24 to July 28.

The trimmed-down 7.6-billion-rupee ($88 million) IPO is a fresh issue, with the number of shares yet to be disclosed and proceeds earmarked for debt repayment and acquisitions.

Brigade Hotel Ventures first filed for an IPO in October with an offer size from 9 billion rupees.

CEO Ananda Natarajan told Reuters the reduction follows a 1.26 billion rupees pre-IPO funding round and a debt payment of about 5 million rupees made since June 24.

India's hospitality sector is on a strong upswing, fuelled by a rebound in travel, rising room rates, and steady demand from both leisure and business segments. With improving margins and growing investor interest, hotel firms are tapping public markets to fund growth.

The domestic hotel market has expanded nearly twelvefold between 2015 and 2025, with the luxury segment set to grow 74% over the next four years, driven by a robust project pipeline, according to consultancy Horwath HTL.

Brigade Hotel Ventures operates nine hotels across five Indian cities, with a total inventory of 1,604 keys. The properties are managed in partnership with global hospitality brands like Marriott, Accor and IHG, spanning the midscale to upper scale segments.

In February, the company announced plans to add five new hotels, including luxury properties, aiming to expand its portfolio to 2,560 keys by fiscal 2029.

The company competes with the newly listed Schloss Bangalore SCHL.NS, owner of luxury hotel chain "The Leela", among others.

($1 = 86.1300 Indian rupees)

(Reporting by Manvi Pant, Yagnoseni Das and Chandini Monnappa in Bengaluru; Editing by Sherry Jacob-Phillips and Janane Venkatraman)

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** Shares of Schloss Bangalore SCHL.NS, which owns and operates Indian luxury hotel brand "The Leela", up ~6%

** Stock last up 427 rupees vs IPO price of 435 rupees in June

** Brokerages Bank of America ("buy", TP 520 rupees) and Morgan Stanley ("overweight", TP 549 rupees) start coverage

** BofA sees steady growth path through property, brand expansion "in an under served market"

** Morgan Stanley justifies its rating on strong luxury demand, "iconic" assets, attractive valuations,

** Adds, demand outstripping supply will keep average room revenue higher for longer

(Reporting by Hritam Mukherjee in Bengaluru)

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** Jefferies expects "healthy" Q1FY26 growth for Indian hotel firms, undeterred by some travel softness in May due to military conflicts between New Delhi and Islamabad

** Q1 "started on a strong note in April, extending Q4 performance and June is expected to see normalcy" - note

** Adds, hotel firms to continue to benefit from industry uptrends, including demand outstripping supply

** Taj-parent Indian Hotels Co Ltd IHTL.NS, ITC Hotels ITCT.NS and Chalet CHAL.NS are brokerage's top sectoral picks

** On the day, IHTL flat, ITCT edges up 0.2%. CHAL down 1%

** All three cos outperformed or were in-line with industry in terms of Y/Y Q4 revenue growth per available room, a key operating metric

(Reporting by Hritam Mukherjee in Bengaluru)

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June 3 (Reuters) - Schloss Bangalore Ltd SCHL.NS:

• MMRDA APPROVES PLOT ALLOTMENT TO SCHLOSS BANGALORE CONSORTIUM

• LEASE OF PLOT IN BANDRA-KURLA COMPLEX ALLOTTED FOR 80 YEARS

• TO DEVELOP MIXED-USE PROJECT INCLUDING 250 KEY LUXURY HOTEL

• TOTAL LEASE PREMIUM PAYABLE IS 13.02 BILLION RUPEES

Source text: ID:nBSE1P9tlN

Further company coverage: SCHL.NS

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Adds valuation in paragraph 1, background, analyst comment and context in paragraphs 3-11

June 2 (Reuters) - Shares of Schloss Bangalore SCHL.NS, owner of luxury hotel chain "The Leela", debuted 6.7% lower on Monday, valuing the company at 137.97 billion rupees ($1.62 billion).

The stock listed at 406 rupees on India's National Stock Exchange, compared to its issue price of 435 rupees. It was last down at 428 rupees.

Brookfield Asset Management BAM.TO-owned Schloss, whose$409 million IPO was the second-largest in India this year after Hexaware Technologies' $1 billion offering, had targeted a valuation of about $1.7 billion. The issue was oversubscribed nearly five times last week.

Schloss was expected to list weakly on concerns of rich valuation, debt and lower room occupancy rates than peers.

Its room occupancy was at roughly 70% for fiscal 2025, its prospectus showed. Occupancy levels for rivals Indian Hotels Company Ltd IHTL.NS and EIH Associated Hotels EIHA.NS were 78% and 79% respectively, company statements show.

"Taj"-owner Indian Hotels is valued at $12.76 billion while "Oberoi"-parent is valued at $273.3 million.

So far this year, IHCL and EIH Associated Hotels are down 12% and 5% respectively, compared to a 4% gain in blue-chip Nifty 50 index .NSEI. On the day, the benchmark was down 0.6%.

Schloss had initially filed for IPO last year to trim down its debt levels, which at the end of fiscal year 2025 stood at 25.68 billion rupees - a 32% decline on-year.

In comparison, liabilities at the end of the fiscal year 2025 at Indian Hotels and EIH Associated Hotels stood at 19.04 billion rupees and 1.10 billion rupees respectively.

"This lower interest is justified given investor concerns around the IPO's valuation, the company’s significant debt burden even after recent reductions, and operational challenges such as occupancy rates lagging behind industry averages," Prashanth Tapse, senior vice president (research) at Mehta Equities said.

Institutional buyers bid for more than seven times the shares allotted for them in Schloss, while retail investors bid for just 83%.

($1 = 85.4150 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee)

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