Apeejay Surrendra Park Hotels Limited (PARKHOTELS) has made a significant move in the hospitality sector by announcing the acquisition of a 90% stake in Zillion Hotels and Resorts Private Limited. The deal, valued at up to ₹2,065.50 million, will be executed through a cash transaction and includes an option to acquire the remaining 10% shareholding based on certain future events.

Strategic Expansion in Mumbai

The acquisition brings Z Luxury Residences, a premium property in Mumbai's Juhu area, under the Apeejay Surrendra Park Hotels umbrella. Z Luxury Residences boasts 62 service residences along with food and beverage facilities, strategically located at 29/1 J R Mhatre Road, opposite Iris Park in Juhu.

Transaction Details

According to the Share Purchase Agreement disclosed in the company's LODR filing:

Impact on Corporate Structure

Upon completion of the transaction, Zillion Hotels and Resorts Private Limited will become a subsidiary of Apeejay Surrendra Park Hotels Limited. This move aligns with the company's strategy to strengthen its presence in key markets and expand its portfolio of luxury properties.

Regulatory Compliance

The company has confirmed that the acquisition does not fall under related party transactions and requires no governmental or regulatory approvals. This streamlined process is expected to facilitate a smoother integration of the new property into Apeejay Surrendra Park Hotels' existing operations.

Market Implications

This acquisition marks a significant expansion for Apeejay Surrendra Park Hotels in the lucrative Mumbai market. The addition of Z Luxury Residences to its portfolio is expected to enhance the company's offerings in the premium segment of the hospitality industry.

As the hospitality sector continues to recover and grow post-pandemic, strategic acquisitions like this could position Apeejay Surrendra Park Hotels favorably in the competitive luxury hotel market.

Investors and industry observers will be keenly watching how this acquisition impacts the company's financial performance and market position in the coming quarters.

Note: The company has also announced the closure of its trading window from October 1, 2025, in connection with the upcoming Q2 and half-yearly financial results, demonstrating its commitment to regulatory compliance and transparency.

Apeejay Surrendra Park Hotels Limited , a prominent player in the Indian hospitality sector, has secured shareholder approval for the re-appointment of Vijay Dewan as Managing Director. The decision, made at the company's 36th Annual General Meeting (AGM) held on September 27, 2024, extends Dewan's tenure for another three years, from December 1, 2024, through November 30, 2027.

Leadership Continuity

The re-appointment of Vijay Dewan comes on the recommendation of the Nomination and Remuneration Committee and the Board of Directors, highlighting the company's confidence in his leadership. Dewan, who has been with Apeejay Surrendra Park Hotels since April 8, 1991, brings a wealth of experience to the role, with approximately 32 years in the hospitality industry.

Educational Background and Industry Experience

Vijay Dewan's credentials include:

• Master's degree in organic chemistry from Garhwal University
• Post-graduate diploma in hotel management from the Oberoi School of Hotel Management

His extensive experience and educational background have likely contributed to his long-standing position within the company.

Industry Leadership Roles

Beyond his role at Apeejay Surrendra Park Hotels, Dewan has held several significant positions in industry associations, showcasing his influence in the broader hospitality and business sectors:

• Chairman of CII West Bengal State Council (2019-2020)
• Chairman of CII Eastern Region (2021-2022)
• National Council Member of CII
• Managing Committee Member of Hotels & Restaurant Association of Eastern India

These roles underscore Dewan's active involvement in shaping policies and practices within the hospitality industry, particularly in Eastern India.

Looking Ahead

As Apeejay Surrendra Park Hotels Limited prepares for its 37th AGM, scheduled for September 26, 2025, as per the recent LODR data, the re-appointment of Vijay Dewan signals a continuation of the company's current leadership strategy. Shareholders and industry observers will likely be watching closely to see how Dewan's extended tenure will contribute to the company's growth and performance in the coming years.

The hospitality sector, which has faced significant challenges in recent times, may benefit from experienced leadership as it navigates the post-pandemic landscape. Dewan's long-standing experience with the company and his broader industry roles position him well to guide Apeejay Surrendra Park Hotels through the evolving market conditions.

As the company moves forward, stakeholders will be keen to see how Dewan's leadership will drive innovation, expansion, and financial performance in the competitive hospitality market.