Thailand’s Minor International is leading a consortium that is considering investment of about $350 million in Indian hospitality firm Hotel Leelaventure Ltd. Leela Palace Udaipur and Leela Kovalam are amongst the luxury properties of Hotel Leelaventure Ltd.

Dillip Rajakarier, CEO, Minor’s hotel unit, said that they were considering the investment in Hotel Leelaventure Ltd. but nothing is finalised yet. Spokesperson from Hotel Leelaventure Ltd said that nothing is finalised yet and they would not like to comment on the same.

Hotel Leelaventure Ltd. has 9 properties in India that it owns or manages. Its luxury properties include Leela Palace Udaipur, situated on banks of Lake Pichola and Leela Kovalam located on beachside cliff in Kerala.

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The proposed bid for Hotel Leela includes a mix of debt and equity and if the deal goes through then the consortium would end up taking a major stake in Hotel Leelaventure Ltd.