Apeejay Surrendra Park Hotels Limited has entered into agreements to acquire boutique hospitality properties in Kerala, including the Purity lakefront property and The Malabar House hotel, through strategic acquisitions. The company has structured its Kerala expansion through three key acquisitions targeting premium properties in one of India's key tourism destinations.

Strategic Acquisition Overview

Apeejay Surrendra Park Hotels has disclosed multiple Share Purchase Agreements aimed at expanding its premium property portfolio in Kerala. The transactions involve acquiring controlling stakes in companies that own and operate boutique hospitality properties and heritage hotels in the state.

THALI Hotels and Destinations Acquisition

Apeejay Surrendra Park Hotels will acquire 100% effective control of THALI Hotels and Destinations Private Limited through a dual approach. The company will directly acquire 5,22,227 equity shares representing 75.39% of THALI's paid-up share capital, while gaining the remaining 24.61% stake through its acquisition of Fishermans Grove Resorts Private Limited.

THALI operates within the boutique hospitality sector, offering premium lakefront stays and luxury houseboat experiences. The target company has an authorized share capital of ₹1,00,00,000.00 divided into 10,00,000 equity shares of ₹10.00 each, with a paid-up share capital of ₹69,27,070.00 comprising 6,92,707 fully paid-up equity shares.

Fishermans Grove Resorts Acquisition

The company will acquire 4,32,991 equity shares constituting 100% of Fishermans Grove Resorts Private Limited's paid-up share capital. FGRPL, incorporated on March 18, 1998, is engaged in the boutique hospitality and resort business in Kerala.

FGRPL has an authorized share capital of ₹50,00,000.00 divided into 5,00,000 equity shares of ₹10.00 each and a paid-up capital of ₹43,29,910.00 comprising 4,32,991 fully paid-up equity shares. The company reported zero turnover across the last three financial years (2022-23 to 2024-25).

The Malabar House Acquisition

Apeejay Surrendra Park Hotels has executed a Lease Deed and Share Purchase Agreement with Cochin Residency Private Limited for acquiring The Malabar House property. The acquisition involves purchasing at least 90.96% shareholding of CRPL, with an option to acquire up to 100% of its paid-up share capital consisting of 11,06,066 equity shares of ₹10.00 each.

The Malabar House is situated at 1/268-269, Parade Road, Fort Kochi, Kochi, Kerala-682001, constructed on freehold land measuring 19.63 Ares. The property includes all existing structures, furniture fixtures, civil works, interior décor, easements, rights of way and associated appurtenances.

Transaction Structure and Impact

All acquisitions involve cash consideration, with final sale consideration to be determined in accordance with respective Share Purchase Agreements, subject to closing adjustments. The per-share price will be calculated by dividing the Final Sale Consideration by the total number of shares being acquired in each transaction.

Upon consummation of these transactions, the properties namely Purity and The Malabar House will be held by the company, and their financial results will form part of Apeejay Surrendra Park Hotels' consolidated financial statements. The acquisitions align with the company's strategy to expand its presence in Kerala's premium hospitality market, targeting the boutique and heritage hotel segments.

Apeejay Surrendra Park Hotels Limited , a prominent player in the Indian hospitality sector, has made a strategic move to expand its presence in Goa. The company recently executed a long-term lease agreement for Casa De Katson, a fully furnished and operational hotel property located in Bardez, Goa.

Key Details of the Lease Agreement

Strategic Implications

This lease agreement marks a significant step for Apeejay Surrendra Park Hotels Limited in strengthening its foothold in the lucrative Goan hospitality market. By taking over the operations of Casa De Katson, the company is poised to leverage its expertise in hotel management and brand reputation to potentially enhance the property's performance.

Property Overview

Casa De Katson is described as a fully furnished and operational hotel, suggesting that Apeejay Surrendra Park Hotels can begin operations swiftly without significant additional investment in infrastructure or furnishings. The property's 42 rooms, along with associated facilities, provide a substantial capacity for the company to cater to tourists and business travelers in Goa.

Operational Control

Under the terms of the agreement, Apeejay Surrendra Park Hotels has secured full operational and commercial rights for the leased property. This arrangement allows the company to implement its own brand standards and operational practices, potentially leading to synergies with its existing portfolio of hotels.

Market Implications

This move by Apeejay Surrendra Park Hotels reflects the company's confidence in the recovery and growth potential of the hospitality sector, particularly in popular tourist destinations like Goa. The long-term nature of the lease (12 years) also indicates a strategic, long-term commitment to expanding the company's presence in key markets.

As the hospitality industry continues to rebound from the impacts of the global pandemic, strategic expansions like this could position Apeejay Surrendra Park Hotels favorably to capture increasing domestic and international tourism demand in Goa.

Investors and industry observers will likely be watching closely to see how this new addition to Apeejay Surrendra Park Hotels' portfolio performs and contributes to the company's overall growth strategy in the coming years.