Sayaji Hotels Inks Long-term Management Deal with Vicon Imperial

Sayaji Hotels Limited has entered into a Hotel Management Agreement with Vicon Imperial (I) Private Limited to provide operational services and manage properties according to the company's brand standards.

The agreement covers managing and operating a star-rated hotel owned by Vicon Imperial (I) Private Limited, located at Labhandi, Behind Magneto Mall, Raipur 492001, Chhattisgarh. The property features 101 key rooms, 3 restaurants, gym, swimming pool, and spa, operating under the "Sayaji" brand name.

The contract spans 180 months from commercial commencement on or before 1st April, 2026, with potential renewal on mutually agreed terms. It builds on an original agreement from March 22, 2017, amended on 23rd October 2018 for 15 years and 3 months, which was terminated effective 31st March, 2026.

A relative of Mr. Raoof Razak Dhanani serves as a director in Vicon Imperial (I) Private Limited, marking this as a related party transaction.

Shares of SAYAJI HOTELS LTD. was last trading in BSE at Rs. 274.20 as compared to the previous close of Rs. 282.00. The total number of shares traded during the day was 2409 in over 6 trades.

The stock hit an intraday high of Rs. 284.40 and intraday low of 274.20. The net turnover during the day was Rs. 660634.00.

Source : Equity Bulls

Keywords

SAYAJIHOTELS INE318C01014 ManagementDeal ViconImperial