Hotel Leela among Global Challengers

Leela Palaces, Hotels, and Resorts is among eight Indian Companies listed by Standard & Poor global rating agency based in New York as among the best challengers of 2007.

Standard & Poor, the most respected name in performance ratings, spotted 300 companies world-wide that can pose a challenge to the world’s leading companies in their respective fields. In India Standard & Poor identified seven companies last year and eight this year to include the Leela.

The report noted their Indian equity in the universe of listed stocks is less than 396.

Last year three Indian commercial banks featured in the Standard & Poor rating. This year no bank is listed. Standard & Poor drew up this year’s list on the basis of market capitalization which has to be in the range of $ 500 million to $ 5 billion. They also need to post price appreciation for three years in a row. These companies also need to post a growth in their earnings per share and the number of employees.

The Leela has grown by leaps and bounds in the last three years with luxury hotels in Mumbai, Bangalore, Goa, Kovalam Beach and Delhi. It has acquired prime property in the Diplomatic Enclave in New Delhi at a cost of Rs.611 crores for a super luxury seven-star hotel besides new projects at Gurgaon, Udaipur, Chennai, Hyderabad and Pune. All these will come up and be operational between 2007 and 2010.

Should you need any further information I would be delighted to be of assistance.

Issued by
Mithu Basu
Group Head Corporate Communications
The Leela Palaces~Hotels~Resorts
Sahar, Mumbai 400 059
Tel: +91 (22) 66911052
Fax: +91 (22) 66911455
Cell: +91 9820414732
mithu.basu@theleela.com