Signing of the Management Agreement for the new 6 Acres Hotel Property situated at Igatpuri, Maharashtra having Chalet approximately 33 keys, 2 Restaurants & 1 Upper Deck Bar, 3 Swimming ....
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Vikram Kamats Hospitality's subsidiary, Vitizen Hotels Limited, has signed a management agreement to operate a new hotel property at VITS Select in Igatpuri, Maharashtra. The property spans 6 acres and will feature approximately 33 chalet-style rooms, 2 restaurants, 1 upper deck bar, 3 swimming pools, 3 lawns, and a grand banquet hall. The hotel is expected to commence operations by June 2026. With this addition, the company will expand its portfolio to 20 hotels across India, operating a mix of owned, leased, and managed properties. This represents the company's continued expansion strategy in the hospitality sector.
The new property adds to the company's managed hotel portfolio and signals continued growth, though the revenue impact remains uncertain until operations begin. Investors may view this positively as it demonstrates expansion initiatives.