Ceres Hotels is a newly created hotel outfit established by Mr.Raj Bagri a London based businessman.
Mr.Bagri is the promoter of Metdist Groupwhich is very active Malaysia and other parts of the world.They acquired the denim brand Spykar last year.
Metdist has now purchased the Leela hotel in Goa in one of the biggest deals in the Hospitality Industry in India at a price of 725 Cr.
The Leela hotel was constructed in 1991 by the Leelaventure promoted by Nairs. The acquisition will need to pass through regulatory approvals and expected to get formalised by the year end.
While the sale formalities will be processed and completed it is understood that the Management and Operations of the Leela, Goa will continue to remain with Hotel Leela venture as per the agreement signed.
