Apeejay Surrendra Park Hotels Limited has informed the Exchange regarding 'Press Release on signing of two hotel management agreements'.
PARKHOTELS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ASPHL signed two hotel management agreements for new properties in Ayodhya and Ujjain, two prominent pilgrimage destinations in India. The Ayodhya hotel (Zone Connect by The Park) will have 56 rooms located near the Ram Janmabhoomi site, while the Ujjain property will feature 64 rooms near the Mahakaleshwar temple. Both hotels will include dining options, swimming pools, and fitness facilities. These agreements expand ASPHL's Zone by The Park portfolio, which currently operates 39 hotels across India. The signings strengthen the company's presence in India's growing pilgrimage tourism segment, with properties developed by third-party owners while ASPHL provides brand and operational management.
Positive for shareholders as this demonstrates execution of ASPHL's growth strategy in high-demand pilgrimage tourism locations. However, no revenue or earnings impact has been disclosed as these are management agreements for hotels yet to be built and operationalised.