Eco Hotels and Resorts Limited has announced a significant expansion initiative with its Board of Directors granting in-principle approval for acquiring 11 hotel properties across major Indian cities on a long-term lease basis. The decision was made during a board meeting held on December 26, 2025, marking a strategic move to strengthen the company's presence in key hospitality markets.

Greenfield Development Projects

The expansion plan includes three greenfield projects that will establish new hotel properties from the ground up:

Brownfield Property Acquisitions

The company plans to acquire seven existing properties for renovation and rebranding across strategic locations:

Bangalore and Gurugram Properties

• Bangalore (Koramangala): 40-room property featuring rooftop facilities, banquet hall, restaurant, and ground floor cafeteria
• Gurugram (Sector 52): 32-room property with restaurant and banquet facilities

Religious Tourism Destinations

The company is targeting properties in prominent pilgrimage destinations:

Udaipur Heritage Properties

Two properties in the heritage city of Udaipur are included in the acquisition plan:

• Property 1: 20 rooms with rooftop restaurant accommodating 35-40 guests and ground floor cafeteria
• Property 2: 43 rooms with banquet and restaurant facilities on the ground floor

Ready-to-Operate Asset

The expansion includes one ready project in Hyderabad's Hitech City area, featuring 48 rooms and a rooftop restaurant, allowing for immediate operational integration.

Strategic Implementation

The Board of Directors has emphasized the importance of thorough evaluation before finalizing any agreements. Management has been advised to conduct comprehensive due diligence prior to entering into lease agreements for these properties. This cautious approach reflects the company's commitment to strategic growth while maintaining operational excellence.

The board meeting, which commenced at 4:30 PM and concluded at 6:45 PM on December 26, 2025, demonstrates Eco Hotels and Resorts Limited's ambitious expansion strategy across diverse market segments including business hotels, heritage tourism, and religious pilgrimage destinations.

ECO Hotels & Resorts Limited has initiated a postal ballot process to seek shareholder approval for two significant corporate actions. The company is looking to appoint a new statutory auditor and add a Whole-Time Director to its board.

Key Points of the Postal Ballot

1. New Statutory Auditor: The company proposes to appoint M/s. K.M. Garg Co. as statutory auditors following the resignation of Mr. Girish L. Sethia.

2. New Whole-Time Director: Mr. Vikram Kantilal Doshi is proposed to be appointed as Whole-Time Director-Finance for a three-year term.

3. Director's Remuneration: The proposed annual remuneration for Mr. Doshi is set at Rs. 59,89,500.

4. E-Voting Period: Shareholders can cast their votes electronically from December 4, 2025 to January 2, 2026.

5. Results Announcement: The company will announce the voting results within two working days of the e-voting conclusion.

Financial Context

To provide context for these corporate actions, let's look at some key financial metrics of ECO Hotels & Resorts Limited:

The company has shown significant growth in its balance sheet over the past year, with total assets more than quadrupling. This growth context may explain the need for new leadership in the finance department and a change in auditors to manage the company's expanding financial operations.

Implications for Shareholders

1. Auditor Change: The appointment of a new statutory auditor could bring fresh perspectives to the company's financial reporting and compliance processes.

2. Financial Leadership: The proposed appointment of Mr. Doshi as Whole-Time Director-Finance suggests a strategic move to strengthen the company's financial management during this period of rapid growth.

3. Governance: These changes indicate that ECO Hotels & Resorts is taking steps to enhance its corporate governance structure, which could be viewed positively by investors.

Shareholders are encouraged to review the detailed postal ballot notice and cast their votes before the e-voting deadline. The outcome of this ballot will be crucial in shaping the company's financial leadership and auditing processes for the coming years.