Hotel Leelaventure said that it has concluded the Rs 725 crore sale of its Goa property to Ceres Hotels.

Hotel Leelaventure said in a BSE filing that the sale of ‘The Leela, Goa’ has been completed on December 14, 2015.

It further said that “The shareholding of the company shall remain unaffected pursuant to the aforesaid sale”.

Vivek Nair, CMD of Hotel Leelaventure said in a statement that “The disinvestment of the Goa hotel and retaining the management of the hotel under the Leela brand is in line with our strategy to restructure our debt, follow an asset light model and manage more hotels”.

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