Apeejay Surrendra Park Hotels Limited has informed the Exchange regarding 'Intimation regarding signing of Hotel Management and Licensing Agreement'.
PARKHOTELS · price
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Apeejay Surrendra Park Hotels Limited has signed a 20-year Hotel Management and Licensing Agreement with Luxmi Tea Co. Private Limited to operate and manage a 100-room premium hotel under 'The Park' brand. The hotel will be built on about 3.25 acres within the Chandmani Tea Estate in Siliguri, West Bengal, and will include food & beverage outlets, a banquet hall, a bar, and wellness facilities. Construction is expected to be completed by March 2031, with the agreement running for 20 years from the hotel's opening date. This expands the company's managed/operated portfolio under its flagship 'The Park' brand in eastern India.
This is a long-term brand expansion move that adds a premium hotel asset to Apeejay's managed portfolio with no upfront property investment, but the benefits will only materialize after the hotel opens around 2031, so near-term stock impact is likely limited.