It is a good deal for Leela.. I don't think they are doing so great and operating in Pune would maybe have resulted in losses.. Having a hotel in the city for office community would be better for Gateway kind of hotels and I am not sure if Leela has a brand on that range..
Politicians take their cut being the silent partner in such ventures.. as high as 50% just for easing out the deal and getting necessary approvals
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Originally Posted by Venkytalks
Agreed, Aditi.
Leela must have fallen out with politicians. Maybe they were forced to sell the land against their will!!!
Also, another possibility is that this land must have been sold by a politician long ago by giving hotel land use, because at that time only that was possible. But the intention all along might have been to park the land with the hotel to get immediate money and later convert the usage to reap illegitimate rewards all over again - double rewards scheme. All the politician has to do is strike a deal with the hotel owner, who has the capital. Everyone makes money - politician, leela, and the new builder.
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