Spectrum Foods Ltd Sign 90 Day Exclusive LOI with Minor Hotels to Bring India"s First AVANI+Resort to Pushkar
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Spectrum Foods Limited (BSE: 531982) has signed a 90-day exclusive Letter of Intent (LOI) with global hospitality group Minor Hotels to negotiate and finalise a Hotel Management Agreement for AVANI+ Pushkar Resort & Spa, which will be India's first AVANI-branded property. The project is an 185-key luxury resort on an 8-acre estate with 42 contemporary rooms and 143 private villas overlooking the Aravalli Hills. Phase I opening of 138 keys is targeted for August 2025, with the remaining keys to follow within six months. During the 90-day exclusivity window, both parties will complete commercial negotiations and, if approved, execute the HMA. The property will feature an infinity pool, spa, gym, multiple dining outlets, a ballroom, and event spaces for weddings and corporate gatherings.
This LOI signals Spectrum Foods' expansion into the premium hospitality segment with a globally recognised brand partnership, which could enhance long-term revenue diversification and brand visibility. However, the deal is still preliminary — no binding HMA has been signed yet, and timelines or project parameters may change, so investors should watch for the definitive agreement over the next 90 days.