Important Points
- Schloss Bangalore, the parent company of The Leela in Mumbai, has announced a new ultra luxury hotel located in BKC, Mumbai, as part of their expansion after its IPO.
- The company pursues a multifaceted growth strategy that includes new assets and serviced apartments as well as increased inventory owned by the company.
- Direct bookings and the MICE segment’s performance are driving strong growth year-on-year in occupancy, ADR and revenue.
You can read more about it here:
Schloss Bangalore (parent company of The Leela) revealed in its first quarterly report following its IPO plans to build a new ultra luxury hotel at Mumbai’s Bandra Kurla Complex. The area is a hotbed for untapped demand. The company’s overall expansion strategy includes growing its existing assets, expanding into new verticals, such as private clubs and serviced apartment, purchasing new land and expanding via management agreements. The financial results were driven by strong growth in occupancy rates, revenue and average daily rate. This was due to direct bookings as well as a robust performance in MICE and the food and beverages segments.
