Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015 of entering into Hotel Management Agreement.
SAYAJIHOTL · price
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Awaiting price reaction for this filing.
Sayaji Hotels Ltd has entered into a 15-year Hotel Management Agreement with SPJ Recreational Centre Private Limited to manage and operate a 5-star hotel near Wet and Joy Park in Pune (Takve Khurd, Taluka Maval). The property includes 49 room keys, 71 villas, 2 banquet halls, a banquet lawn, restaurants, gym, spa, and swimming pool. The hotel will operate under the 'SAYAJI' brand, with handover scheduled on or before 31 December 2027. The agreement is renewable in 5-year blocks on mutually agreed terms and is not a related-party transaction. This is an asset-light expansion — Sayaji earns management/operating fees without owning the property.
Positive for shareholders — adds a new revenue stream through management fees in the Pune market without capital outlay, strengthening the Sayaji brand footprint. Execution and actual operations starting post-handover in late 2027 will be the key milestones to watch.