Eco Hotels & Resorts Limited approves lease of hotel properties

The Board of Directors of Eco Hotels & Resorts Limited at their meeting held today i.e. (Monday, September 16, 2024) at 4.30 P.M. discussed and approved proposals for taking over hotel properties in few locations.

The Board approved the proposal of the management for taking over a hotel property having 90 rooms situated at Mysore, Karnataka on a long term lease basis.

The Board approved the proposal of the management for taking over a hotel property having 44 rooms situated at Tirupati, Andhra Pradesh on a long term lease basis.

The Board approved the proposal of the management for taking over a hotel property having 44 rooms situated at Nagpur, Maharashtra on a long term lease basis.

The Board, after deliberations, granted in principal approval, to the proposal of management to acquire hotel properties at Shirdi (60 rooms), Jodhpur (72 rooms), and Nagpur (37 rooms) for which proposals have been received by the management from the respective owners and management is actively negotiating the terms and conditions of the deal.

Source : Equity Bulls

Keywords

EcoHotelsandResorts Takeover HotelProperties LongTermLease