[2] Headquartered in Mumbai, The Leela Palaces, Hotels and Resorts is owned by a Brookfield Asset Management-sponsored private real estate fund and operates twelve award-winning properties in major cities and leisure destinations across India.

In 2001, the group's first modern hotel was built with 357 rooms in the IT capital of India, Bangalore, inspired by the Mysore Palace and the architecture of the 13th century Vijayanagara empire, and is surrounded by seven acres of gardens.

[9] In a deal in October 2019, the company sold its hotel properties and operations as well as hotel assets located in New Delhi, Bengaluru, Chennai, Udaipur to Canada-based Brookfield Asset Management, in an INR 3,950 crore settlement, marking the entry of Brookfield in India’s hospitality market.

[10][11][12] ITC Group had objected to the sale of Leela owned hotels citing reasons of misappropriation of funds in the sale transaction which was led by the consortium of banks and also due to the fact the interests of minority shareholders were overlooked, and other bids submitted by interested bidders were not considered by JM Financial, the asset reconstruction company in Mumbai.

[13] In addition to ITC, there were other suitors for the Leela Hotels & Resorts, including that of Rashid Al-Habtoor[14] a UAE businessman jointly with an Arms Dealer Abhishek Verma[15] who submitted their bid of US$600 million in January 2019 however their bids were not entertained and questions were raised on the conduct of JM Financial in this sale transaction.