Intimation Under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 of entering into Hotel Management Agreement.
SAYAJIHOTL · price
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Sayaji Hotels Ltd has signed a Hotel Management Agreement with Om Shivam Buildcon Private Limited to manage and operate a 4-star hotel at Hingna, Nagpur, Maharashtra. The hotel will have 115 rooms, 2 banquet halls, 2 restaurants, 2 board rooms, a gym, and a spa, and will operate under the brand name 'Effotel by Sayaji'. The agreement runs for 15 years from the date of commercial commencement, with an option to renew every 5 years on mutually agreed terms. The transaction is not a related party transaction.
This is a brand expansion move that adds a new managed property to Sayaji Hotels' portfolio without requiring capital investment in the asset itself, potentially boosting future fee-based income and brand presence in central India.