Brookfield Asset Management is poised to realize significant gains as its Indian hospitality portfolio company, Schloss Bangalore—owner of The Leela hotels—prepares for a public listing. The IPO, scheduled from May 26 to 28, 2025, has been adjusted to raise INR35 billion (approximately USD409 million), down from the initially planned INR50 billion, reflecting a 30% reduction due to improved debt metrics and prevailing market conditions.
The IPO price band is set between INT413 and INR435 per share, potentially valuing Schloss at INR145 billion (USD1.7 billion).Brookfield, which acquired The Leela in 2019, plans to divest INR10 billion worth of shares, halving its original sell-off target. This move is anticipated to yield substantial returns on Brookfield’s six-year investment.
Schloss has demonstrated financial improvement, with net debt decreasing by 32% to INR 25.68 billion as of March 2025, and a return to profitability driven by an 11% revenue increase. The company operates 13 luxury hotels across India and aims to expand by adding seven more properties domestically and internationally by 2028.
This IPO not only marks a significant milestone for Brookfield’s investment in India’s hospitality sector but also underscores the country’s growing prominence in the global luxury hotel market.
