Gujarat Hotels Ltd has announced that the Board of Directors of the Company at its meeting held on May 01, 2007, inter alia, has decided to recommend to the shareholders at the 25th Annual General Meeting of the Company to be held on July 20, 2007, payment of dividend, for the financial year ended March 31, 2007 of Rs 2.00 per Equity Share (2006 - Rs 1.50 per Equity Share) on 37,87,515 Equity Shares of Rs 10/- each.