As Centaur awaits end, Leela takes over Srinagar property
The other Centaur, at Delhi Airport, however, is languishing in its last remaining six years of existence, with more than half of its 378 rooms unusable, awaiting demolition after March 2032. Govt had in Dec 2019 allowed the dilapidated 1982-era Centaur Delhi to remain operational till March 31, 2032.
The property is to be demolished after that and the area be used for expanding airport facilities.
With no capex, considering the short remaining time period for recovering the same, the once iconic property remembered for its glass lifts and central hall is like a terminally ill patient in his last days, waiting for the end. Anuraag Bhatnagar, Leela’s whole-time director & CEO, told TOI: “We are doing a Rs 300-crore capex on Centaur Srinagar.
Extensive work is on at the site, which is the biggest hospitality sector project in Kashmir right now.
The property, which used to have 220 keys, will open by the end of next year, with 170 bigger rooms as Leela.
We are going to have Leela branded houseboats too, in a first for this place.” He added: “India is at the beginning of a multi-decadal cycle of luxury.
The 7 crore households currently targeted by luxury players are expected to triple by 2030.
While demand for luxury hospitality is growing in double digits, there is very little supply addition in the space.” Leela currently has 13 properties operational and sees this number rising to 23 by March 2030.
