Leela Palaces, Hotels, and Resorts announced its expansion to Dubai, marking the brand’s first project outside India. The company received board approval to acquire a 25% stake in a beachfront resort on Palm Jumeirah, with private funds managed by Brookfield acquiring the remaining 75%. The transaction is expected to close in Q3 2026.
The resort is located next to Atlantis The Royal and spans 23 acres on one of the largest freehold beachfront plots in Dubai. It includes 546 keys, comprising a 361-key hotel, 182 residences, and three villas.
Key investment points include its size as one of the largest beachfront properties in Dubai, a purchase price of $504 million or $930,000 per key, which implies an entry multiple of 12.8x CY’25 EBITDA and approximately 7.0x stabilized 2030 EBITDA, and the expectation that 100% of Leela’s equity will be returned within 2–3 years through the sale of branded residences.
Dubai received more than 19 million international visitors in 2024 and ranks among the top tourism destinations and the global leader in luxury home sales. The investment also uses non-recourse debt, and Brookfield brings executive experience in the Middle East.
The Leela’s expansion into Dubai represents the brand’s first international venture, using a partnership structure and a location on Palm Jumeirah to enter the Middle East market.
