Apeejay Surrendra Park Hotels Limited has informed the Exchange regarding 'Signing of Hotel Management Agreement for the upcoming Zone by THE PARK, Mathura'.
PARKHOTELS · price
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Apeejay Surrendra Park Hotels has signed a hotel management agreement with Goyal Parmarthik Trust to operate a new 'Zone by THE PARK' hotel in Govardhan, Mathura, Uttar Pradesh. The upcoming property will have around 100 rooms along with a banquet hall, conference rooms, an all-day dining restaurant, swimming pool, gym, SPA, and parking facilities. This is a management contract, meaning the company will run the hotel but does not own the asset. The hotel is still under development and not yet operational. Currently, the company operates 35 hotels across India through owned, leased, and managed models.
This adds a future revenue stream under the company's asset-light managed hotel segment, but since the property is still being built, there is no immediate financial impact. It signals continued brand expansion into smaller cities like Mathura, which is mildly positive for long-term growth.