Apeejay Surrendra Park Hotels Ltd signs Hotel Management and Licensing Agreement

Apeejay Surrendra Park Hotels Limited ("the Company"), has entered into a Hotel Management and Licensing Agreement ("Agreement") today with Luxmi Tea Co. Private Limited, a company incorporated under the Companies Act, 1956, having its registered office at 17 R N Mukherjee Road, Kolkata, West Bengal, India, 700001 ("the Owner") for operation and management of a proposed 100-room premium hotel project under "The Park" brand, to be developed on approximately 3.25 acres within the Chandmani Tea Estate, Siliguri, West Bengal.

The 100-room hotel will comprise of associated facilities including food & beverage outlets, banquet hall, bar and wellness facilities. The construction of the hotel is proposed to be completed by March 2031. The Agreement is for a period of 20 (twenty) years from the Opening Date.

Shares of Apeejay Surrendra Park Hotels Limited was last trading in BSE at Rs. 122.80 as compared to the previous close of Rs. 126.25. The total number of shares traded during the day was 29376 in over 706 trades.

The stock hit an intraday high of Rs. 127.60 and intraday low of 120.50. The net turnover during the day was Rs. 3651667.00.

Source : Equity Bulls

Keywords

ApeejaySurrendraParkHotels INE988S01028 HotelManagement LicensingAgreement ThePark Siliguri