Sayaji Hotels Ltd enters into Hotel Management Agreement

Sayaji Hotels Limited ("the Company") has entered into the Hotel Management Agreement with the Om Shivam Buildcon Private Limited for the purpose of providing operational services and managing properties in line with the brand standards of the Company.

The agreement is entered for 15 years from the date of commercial commencement of Hotel. After which the Agreement may be renewed on mutually agreed terms for each renewal period of 5 years.

Sayaji Hotels Limited will Manage and Operate the 4-star rated Hotel owned by Om Shivam Buildcon Private Limited located at Hingna Nagpur, Maharashtra 441108.

The Hotel property will consists of115 Hotel Rooms, 2 Banquet Halls, 2 Restaurants, 2 Board Rooms, Gym, SPA. The Brand Name to be used will be "EFFOTEL BY SAYAJI".

Shares of SAYAJI HOTELS LTD. was last trading in BSE at Rs. 290.45 as compared to the previous close of Rs. 284.15. The total number of shares traded during the day was 3624 in over 51 trades.

The stock hit an intraday high of Rs. 292.50 and intraday low of 277.00. The net turnover during the day was Rs. 1040027.00.

Source : Equity Bulls

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SAYAJIHOTELS INE318C01014 HotelManagementAgreement OmShivamBuildcon