Espire Hospitality Ltd in discussions to take Fort Barwara on sub-lease basis

Espire Hospitality Ltd is having preliminary discussions with M/s. Espire Resorts Private Limited in order to take the Fort Barwara on sub-lease basis or revenue-share basis.

M/s. Espire Resorts Private Limited is the holder of the Leasehold Rights to a heritage fort, namely "Fort Barwara", that is situated at Chauth Ka Barwara, Sawai Madhopur, Rajasthan. The Fort Barwara is currently being operated by the InterContinental Hotels Group as a luxury hotel/resort under its "Six Senses" brand.

The company has also communicated its intentions to the existing operator of the hotel/resort (Six Senses brand owning company of/within the InterContinental Hotels Group).

The company proposes to take the Fort Barwara on sub-lease basis or revenue-share basis; while InterContinental Hotels Group shall continue to operate the hotel/resort under its "Six Senses" brand. The said Fort Barwara is currently being operated as a hotel/resort under the name and style of "Six Senses Fort Barwara". Further information in this regards shall be submitted post finalization of documentation.

Shares of WELLESLEY CORPORATION LTD. was last trading in BSE at Rs. 125.49 as compared to the previous close of Rs. 123.03. The total number of shares traded during the day was 100 in over 2 trades.

The stock hit an intraday high of Rs. 125.49 and intraday low of 125.49. The net turnover during the day was Rs. 12549.00.

Source : Equity Bulls

Keywords

EspireHospitality INE176O01011 Lease FortBarwara