Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 of entering into Hotel Management Agreement.
SAYAJIHOTL · price
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Sayaji Hotels Ltd has signed a 15-year Hotel Management Agreement with Mahavan Resort LLP to manage and operate a 4-star hotel in Somnath, Gujarat under the brand name 'The Forest Chapter' by Sayaji. The property will have 50 key rooms, a banquet hall, a banquet lawn, two restaurants, a gym, and a spa. The agreement is not a related-party transaction and the contract can be renewed on mutually agreed terms after 15 years. This is an asset-light brand expansion where Sayaji will provide operational and management services for a property it does not own.
This expands Sayaji Hotels' footprint into Somnath under its newer 'Forest Chapter' brand without capital investment, which is positive for revenue diversification. For shareholders, it signals steady, low-risk brand expansion, though the financial impact will depend on management fee terms not disclosed here.