Praveg Ltd announces strategic Inventory Arrangement with Mahindra Holidays & Resorts India Ltd

Praveg Limited is delighted to announce a pivotal threeyear partnership with Mahindra Holidays & Resorts India Limited (MHRIL). This agreement underscores a shared vision to enhance hospitality standards and deliver exceptional guest experiences across prime destinations, i.e. Daman, Diu, and Ayodhya.

Under the terms of this arrangement, MHRIL will enter an inventory agreement with Praveg Limited to secure a total of 70 rooms ("Inventory Rooms"), comprising 35 fixed and 35 floating rooms, across select properties. This collaboration leverages Praveg's operational expertise and MHRIL's reputation for delivering premium holiday experiences.

Dr. Vishnu Patel, Chairman of Praveg Limited, "This partnership with MHRIL reflects our commitment to redefining hospitality standards and offering a blend of luxury and comfort to our guests. Together, we aim to create memorable experiences that leave a lasting impression."

Operational and Service Standards

Praveg Limited will continue to operate and manage the properties on an ongoing basis, maintaining high standards of service, amenities, and facilities. Details of these standards will be elaborated in the inventory agreement to be executed between the parties. The agreement not only enhances the operational portfolio of both parties but also promises to elevate guest satisfaction through unparalleled experiences at these premium destinations.

This landmark agreement is a testament to the growing synergy between two industry leaders and their dedication to providing best-in-class hospitality experiences. The partnership is expected to significantly bolster the tourism landscape across the featured locations.

Benefits of the Collaboration

This strategic partnership offers significant advantages for both Praveg Limited and MHRIL. For Praveg Limited, it strengthens market presence through collaboration with an established brand like MHRIL, provides increased revenue opportunities via consistent room bookings and occupancy rates, and enhances its reputation by associating with a trusted name in the hospitality industry. For MHRIL, the partnership facilitates the expansion of their footprint in prominent leisure destinations, i.e. Daman, Diu, and Ayodhya, ensures access to high-quality properties operated by Praveg that guarantee consistent guest satisfaction, and bolsters their portfolio offerings, enabling more diverse holiday experiences for their members.

Shares of Praveg Ltd was last trading in BSE at Rs. 739.75 as compared to the previous close of Rs. 730.20. The total number of shares traded during the day was 123402 in over 5911 trades.

The stock hit an intraday high of Rs. 745.00 and intraday low of 730.00. The net turnover during the day was Rs. 91261572.00.

Source : Equity Bulls

Keywords

Praveg INE722B01019 Partnership ClubMahindra MahindraHolidaysandResortsIndia