We would like to inform you that the subsidiary of the Company viz. Vitizen Hotels Limited has signed an Agreement under long term lease for Hotel property situated at No. 24, HBR 1st stage, ....
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Vikram Kamats Hospitality's subsidiary, Vitizen Hotels Limited, has signed a long-term lease agreement for a hotel property at Manayata Tech Park, Bengaluru. The property is located at HBR 1st Stage, 5th Block, and features approximately 40 rooms, one restaurant, and other hotel facilities. This new property will be operated by the subsidiary and is expected to contribute to the consolidated revenue and profits of the company once operations commence. The expansion aligns with the company's hospitality business spanning hotels, restaurants, and hospitality education.
This is a positive expansion move that broadens the company's hotel footprint in a prime Bengaluru tech park location. Once operational, the new 40-room hotel should add to consolidated top-line and bottom-line, though investors should watch for updates on the actual commencement date and ramp-up performance.