Hotel Leela Venture (HLV) is the promoter of the 5-star deluxe hotels in Mumbai, Goa, Bangalore and Kovalam. Hotel LeelaVenture Ltd owns and manages hotels under The Leela Palaces & Resorts brand in India. It has a management alliance with Kempinski, the oldest hotel group in Europe. All the hotels of the company are co-branded with Kempinski.

HLV is one of the leading players in hospitality sector. The company was incorporated in 1981 to set up and operate 5-star hotels.  For this HLV, in the same year it entered into collaboration with Penta Hotels of UK that was transferred to Kempinski Hotels and operates European chain of 5-star deluxe hotels and is owned by Lufthansa, a German airline. This collaboration with Penta was for sales, marketing and technical know-how for the period of ten years. In 1986 the company launched its first 5-star deluxe hotel, Leela Penta, in Bombay that later was renamed as Leela Kempinski in 1988.

In 1987 the hotel delinked itself from Penta and entered into technical, sales, and marketing agreement with Kempinski, hotel. In the same year it was assigned 5 star deluxe status.

Recently, Hotel Leelaventure signed a memorandum of understanding with Travancore Enterprises Private, a company owned by Dr. B. Ravi Pillai, to sell its luxury hotel property in Kovalam, Kerala to Travancore Enterprises (TEPL) for Rs 500 crore, in an effort to reduce its debt. The sale will be structured in such a manner that Leelaventure will transfer the hotel undertaking to a special purpose vehicle (SPV), which will be then acquired fully by TEPL.

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