Kohlberg Kravis Roberts & Co. to lend $327M to Hotel Leelaventure

Kohlberg Kravis Roberts & Co., a buyout firm, is widening its money-lending activity in India, looking to lend as much as $327 million to Hotel Leelaventure against two prime properties.

The hospitality chain promoted by Captain CP Krishnan Nair, and partly owned by ITCBSE, reached out to the buyout firm as it has been unable to raise resources as stipulated during its previous loan restructuring package. Its debt is more than $767 million. 

Any deal, if consummated, could be a structured one which may provide an upside for the private equity firm. In December last year, Hilton Worldwide Holdings raised $2.35 billion in an IPO, the largest by a hotel company. The nominal gains of the Blackstone group, Hilton's owner, is among the largest for a private equity company, according to international media reports. 

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


Suggested Articles

The Waldorf Astoria Monarch Beach Resort & Club has 400 guestrooms and an 18-hole golf course.

Representatives from state hotel and lodging associations as well as hotel owners put human faces on the travel downturn.

The first HospitalityVIEW meeting reached a consensus that technology innovation will be a driving force to lead the industry out of the downturn.