Suba Hotels Limited has executed a binding agreement with Kanha Realty, through its Partner Mr. Ankit Thakkar, for a proposed Revenue Sharing Arrangement to operate and manage a hotel property under the "Comfort Inn" brand in Vadodara, Gujarat. The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was filed on 07.05.2026.

Agreement Overview

The binding agreement sets out the broad commercial understanding between the parties pending execution of definitive agreements. The arrangement is structured as a Revenue Sharing Agreement, with Suba Hotels Limited acting as the Operator and Kanha Realty as the Owner. The proposed property will be developed and operated as an upscale commercial hotel under the "Comfort Inn" brand, located off OP Road, Vadodara – 390020, Gujarat.

The key details of the agreement are outlined below:

Property and Facilities

The proposed Comfort Inn hotel will feature approximately 75 keys along with a range of hospitality facilities designed to cater to both business and leisure guests. The property's planned amenities include:

• 1 F&B outlet for dining services
• 1 lounge for guest relaxation
• 1–2 banquet halls with supporting areas
• Basement facilities for operational support

The property is classified as a commercial hotel and is positioned as an upscale hospitality offering within the Vadodara market.

Strategic Rationale

The proposed hotel aligns with Suba Hotels Limited's asset-light expansion strategy, enabling the company to grow its managed hospitality portfolio without direct capital investment in property ownership. The arrangement is expected to strengthen the company's presence in Gujarat under the "Comfort Inn" brand portfolio. The company confirmed that neither promoters, promoter group, nor group companies have any interest in Kanha Realty, and the transaction is not classified as a related party transaction. There will be no change in the management or control of Suba Hotels Limited as a result of this agreement.

Suba Hotels has expanded its operational footprint in Ayodhya with the opening of its third property in the holy city. This strategic expansion reinforces the company's commitment to strengthening its presence in the religious tourism market.

Strategic Expansion in Religious Tourism Hub

The launch of the third operational property marks a significant milestone for Suba Hotels in Ayodhya, positioning the company to better serve the growing influx of pilgrims and tourists visiting the sacred city. This expansion aligns with the increasing demand for quality accommodation facilities in Ayodhya.

Enhanced Market Presence

With three operational properties now serving guests in Ayodhya, Suba Hotels has established a substantial presence in this key religious tourism destination. The company's multi-property approach allows it to cater to diverse guest preferences and accommodation requirements in the market.

Religious Tourism Sector Focus

The expansion demonstrates Suba Hotels' strategic focus on the religious tourism sector, particularly in locations of significant spiritual importance. Ayodhya's status as a major pilgrimage destination makes it an attractive market for hospitality operators seeking to capitalize on steady tourist traffic throughout the year.