ECO Hotels & Resorts has marked a significant milestone in its expansion strategy with the launch of a new 57-room property in Vadodara. This addition brings the company's total operational capacity to 136 rooms across three hotels, underscoring its commitment to growth in the mid-segment hospitality sector.

Strategic Location and Amenities

The newly opened Vadodara property is strategically positioned to cater to business travelers, offering premium amenities in a prime location. Situated near key transportation hubs including Vadodara Airport and railway station, as well as the GIDC Industrial Zone, the hotel is well-placed to serve corporate clients and business visitors to the region.

Key features of the new property include:

• 57 well-appointed rooms
• Two restaurants specializing in vegetarian cuisine
• A spacious 2,800 square foot banquet hall for events and conferences

Expansion Plans

ECO Hotels & Resorts has outlined an ambitious growth trajectory:

• Immediate plans include adding 30 more rooms in Varanasi later this month
• Target of 350+ rooms by March 2026
• Long-term goal of 5,000 rooms by FY 2030

The company operates under several mid-segment brands, including:

• The Eco
• EcoXpress
• EcoValue

These brands are positioned to capture various segments of the mid-range hospitality market, aligning with the company's expansion strategy.

Corporate Backing

It's worth noting that EaseMyTrip, a prominent player in the online travel booking space, holds a 13% stake in ECO Hotels & Resorts. This strategic investment potentially provides synergies and support for the hotel chain's growth plans.

Market Performance

As of the latest trading session, shares of ECO Hotels & Resorts closed at ₹18.10 on the Bombay Stock Exchange (BSE).

The hospitality sector in India continues to show promise, with companies like ECO Hotels & Resorts capitalizing on the growing demand for quality accommodations in tier-2 cities. The company's focus on business travelers and its strategic expansion plans position it to potentially capture a significant share of the mid-segment hotel market in the coming years.

ECO Hotels & Resorts Limited (formerly known as Sharad Fibres & Yarn Processors Limited) has announced an extension of the closing date for its ongoing rights issue. The company has pushed the deadline from September 17 to September 22, providing shareholders with additional time to participate in the offer.

Rights Issue Details

The rights issue involves the issuance of up to 1,28,76,808 partly paid-up equity shares with a face value of Rs. 10.00 each. These shares are being offered at a price of Rs. 15.20 per share, which includes a premium of Rs. 5.20. The total aggregate amount of the issue will not exceed Rs. 1,957.27 lakhs.

Offer Ratio and Record Date

Eligible shareholders can subscribe to the rights issue in the ratio of 1 partly paid-up rights equity share for every 4 fully paid-up equity shares held as of the record date, which was set at August 29.

Reason for Extension

The Rights Issue Committee approved the extension to allow shareholders more time to exercise their rights and participate in the issue. This decision aims to ensure maximum participation from eligible shareholders.

Revised Schedule

Public Notification

To ensure widespread awareness of this extension, ECO Hotels & Resorts Limited has published a corrigendum cum addendum advertisement in three newspapers:

1. Financial Express (English Daily, all editions)
2. Jansatta (Hindi Daily, all editions)
3. Metro Vaartha (Ernakulam Daily, Kerala edition)

Investor Action Required

Eligible shareholders who have not yet applied for the rights issue now have until September 22 to submit their applications along with the required payment.

ECO Hotels & Resorts Limited, which operates in the hospitality sector, is using this rights issue as a means to raise capital. The extension of the closing date reflects the company's commitment to providing its shareholders with ample opportunity to participate in its growth plans.

Investors are advised to carefully review the Letter of Offer and other related documents before making their investment decisions. As with any investment, it's important to consider the risks and potential returns associated with participating in the rights issue.