Hotel Leelaventure in talks to sell Chennai property

New Delhi: Hotel Leelaventure on Friday said it is in discussions to sell Leela Palace Chennai but has not signed any pact for the sale.

The hospitality chain had earlier received shareholders' nod to sell properties in Chennai and Delhi to pay off debt.

"We are in discussions to sell the Leela Palace Chennai, but no binding agreement has been signed with any party, as on date," Hotel Leelaventure said in a filing to BSE.

Located at Adyar Sea Face in the city, the Leela Palace Chennai has a capacity of 326 guest rooms.

Shares of Hotel Leelaventure today closed at Rs 23.10 per scrip on BSE, up 2.67 percent from its previous close.