Established in 2019, Schloss Bangalore Limited is a luxury hospitality company operating under "The Leela" brand in India. As of March 31, 2025, we are one of the largest luxury hospitality companies by number of keys in India, comprising of 3,553 keys across 13 operational hotels. Schloss Bangalore claims to be the only institutionally owned pure-play luxury hospitality company in India.
The company operates through a strategic portfolio that includes The Leela Palaces, The Leela Hotels and The Leela Resorts. As of December 31, 2024, our Portfolio includes 5 owned hotels (our "Owned Portfolio"), 7 hotels that are managed by us pursuant to hotel management agreements (our "Managed Portfolio") and one hotel which is owned and operated by a third-party owner under a franchise arrangement with us.
Schloss Bangalore Ltd. employs a hybrid asset-light and asset-heavy model by combining direct hotel ownership with long-term hotel management and franchise agreements. The business model of an Owner-Manager combines asset ownership and management and provides alignment with an optimal focus on asset level profitability, brand progression and management fee growth.
We have a strategic footprint across 10 key Indian business and leisure destinations, covering 80% of international air traffic and 59% of domestic air traffic in India in the Financial Year 2025. As of May 31, 2024, the company operates 67 restaurants, bars, and cafes, including Jamavar, Library Bar, ZLB 23, Megu, China XO, Le Cirque, and Sheesh Mahal. The portfolio also includes 12 spas and wellness sanctuaries, with a spa collaboration with Soneva under development at The Leela Palace Bengaluru, set for completion in FY 2026.
- Revenue: 1,301 Cr
- Profit: 47.7 Cr
- Market capitalisation of Rs 13,408 crore as of July 1, 2025
It increased from Rs 380.11 crore in FY22 to Rs 860.06 crore in FY23 and Rs 1,171.45 crore in FY24. FY25 marked a major financial upswing, with net profit rising to Rs 47.65 crore from a loss of Rs 2.12 crore in FY24. Revenue grew by 11% while EBITDA increased by 17% year-over-year.
In FY25, the company recorded an average room rate (ARR) of ₹16,409 and revenue per available room (RevPAR) of ₹10,696 across its operational properties, while the overall average occupancy rate of 65%. In FY25, the company's Revenue per Available Room (RevPAR) across its Owned Portfolio was 1.4 times higher than the average for India's luxury hotel segment.
The company claims its brand, The Leela, has received over 250 awards since 2021 and ranks among the world's top luxury hotels. It further claims to have a strong service culture reflected in a high net promoter score (a market research metric that measures customer loyalty) of 84.00 in FY24 and an industry-leading earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin of 48.92 percent.
The stock of luxury hospitality remains constrained – constituting only 17% of the branded hotel market i.e., approximately 29,000 keys. As of December 31, 2024, the company's portfolio spans all 7 major business markets and 3 of the top 5 leisure destinations in India, accounting for ~18% of the total luxury hotel keys in these regions.
Promoter Holding: 75.9% Schloss Bangalore Limited is promoted by private equity funds managed and advised by affiliates of Brookfield, one of the world's largest alternative asset managers. This marks a significant turnaround from its 2019 bankruptcy, where assets were sold to Brookfield for ₹3,950 crore.
The company recently completed its Initial Public Offering (IPO) and got listed on stock exchanges in June 2025. Consortium led by Schloss Bangalore allotted Mumbai BKC plot for 80-year lease at INR 1302 Cr. Leased 8,411.88 sqm BKC plot for 80 years at INR 1302 Cr; plans 250-key luxury hotel development.
It plans to expand with eight new properties across cities like Agra, Srinagar, Hyderabad, and Mumbai. The company continues to focus on strategic expansion in key markets to strengthen its position in India's luxury hospitality sector.
The company reported net losses of Rs 61.68 crore in FY23 and Rs 2.13 crore in FY24. Although FY25 marked a turnaround, the possibility of incurring future losses remains, which could impact its overall financial health and investor confidence. Company has low interest coverage ratio. The company and certain key subsidiaries have reported negative net worth in the past — Rs (2,825.72) crore as of FY24 and Rs (2,511.96) crore as of FY23. Continued or future negative net worth could adversely affect business operations, liquidity, and financial results.
The company operates in the cyclical hospitality industry, which can be affected by economic conditions, travel patterns, and external factors. However, its focus on the luxury segment and strong brand positioning provide some resilience against market volatility.
