Apeejay Surrendra Park Hotels Ltd enters into lease agreement with Katsons Hotel and Developer Pvt Ltd

Apeejay Surrendra Park Hotels Limited ("Company") has executed a Lease Deed today with Katsons Hotel and Developer Private Limited, ("Lessor"), a company incorporated under the Companies Act, 1956, having its registered office at 922 A, Hemkunth Chamber, 89, Nehru Palace, New Delhi - 110019, and Mr. Ved Parkash Kataria ("the Confirming Party"), for taking on lease a fully furnished and operational hotel property known as "Casa De Katson," bearing House No. 192/29, situated on land bearing Survey No. 87/15, admeasuring approximately 1850 sq. mts. with a built-up area of approximately 2772.69 sq. mts., located in Bardez, Goa ("Hotel Property").

The Hotel Property comprises of 42 rooms (excluding 1 additional room reserved for the Confirming Party) along with associated facilities, furniture, fittings, fixtures, plant & machinery, and all existing amenities. The physical possession of the Hotel Property, including all existing furnishings and equipment, has been handed over to the Company, as on the date of execution of the Lease Deed. The Lessor has leased the Hotel Property to the Company for a period of twelve (12) years, during which the Company shall operate and manage the hotel under its own brand standards, with full operational and commercial rights.

Shares of Apeejay Surrendra Park Hotels Limited was last trading in BSE at Rs. 135.55 as compared to the previous close of Rs. 137.00. The total number of shares traded during the day was 27177 in over 560 trades.

The stock hit an intraday high of Rs. 137.00 and intraday low of 135.05. The net turnover during the day was Rs. 3687118.00.

Source : Equity Bulls

Keywords

ApeejaySurrendraParkHotels INE988S01028 LeaseAgreement KatsonsHotelandDeveloper CasaDeKatson