Praveg Beach Resort at Jalandhar House, Diu Commences Operations in Partnership with Roots Corporation Ltd

Praveg Limited, India's leading eco-responsible luxury resort brand, is thrilled to announce the opening of Praveg Beach Resort at Jalandhar House, Diu, starting from December 12, 2024. This launch marks a significant milestone in Praveg's mission to redefine the luxury hospitality experience through sustainability and world-class service.

Dr. Vishnu Patel, Chairman of Praveg Limited, expressed his enthusiasm - "We are delighted to announce the commencement of operations at Praveg Beach Resort at Jalandhar House, Diu, from December 12, 2024. With its unparalleled location, eco-conscious design, and a team that combines fresh energy with experience, we are confident that this resort will provide a truly exceptional experience for our guests."

To enhance its operations, Praveg Limited has partnered with Roots Corporation Limited (Ginger - An IHCL Brand), renowned for its innovative, stylish, and guest-centric hospitality. This strategic collaboration seamlessly integrates Praveg's eco-luxury ethos with Ginger's operational expertise, creating a unique hospitality offering that promises an exceptional guest experience.

This alliance strengthens Praveg's position in the eco-luxury hospitality sector, leveraging Ginger's operational capabilities, modern service model, and the IHCL brand's global recognition. Together, they aim to attract a wider audience, from leisure seekers to business travelers, while enhancing operational efficiency, marketing outreach, and overall guest satisfaction.

Located on the southern coast of Gujarat, Diu is a serene coastal town known for its Portuguese colonial heritage and natural beauty. The town is home to historic landmarks such as Diu Fort, St. Paul's Church, and Naida Caves, as well as pristine beaches like Nagoa, Ghoghla, Chakratirth and Jalandhar Beach. The newly launched Praveg Beach Resort at Jalandhar Beach features 34 luxurious rooms, a conference hall, a seaside restaurant, a sea-facing swimming pool, and a range of other amenities, making it the perfect destination for both leisure and business travelers.

With an expected average occupancy rate of 60% to 65% in its first year, the resort is poised for strong performance. FY25 is expected to be a year of solid expansion for Praveg Limited, as the company continues to scale its portfolio of eco-friendly luxury resorts.

This opening further expands Praveg Limited's presence in the eco-luxury hospitality sector, bringing the company's total portfolio to 14 properties, with several ambitious projects currently in development. The collaboration with Ginger marks a significant step toward offering sustainable yet modern hospitality experiences that set new industry benchmarks.

Shares of Praveg Communications (India) Ltd was last trading in BSE at Rs. 760.75 as compared to the previous close of Rs. 772.25. The total number of shares traded during the day was 93783 in over 1445 trades.

The stock hit an intraday high of Rs. 778.00 and intraday low of 742.50. The net turnover during the day was Rs. 70495303.00.

Source : Equity Bulls

Keywords

Praveg INE722B01019 PravegBeachResort JalandharHouse Diu RootsCorporation Ginger IHCLBrand