Sayaji Hotels Limited has announced a strategic hotel management agreement with Hotel KC Villas, expanding its operational presence in the hill station tourism market. The agreement, formalized on March 9, 2026, positions the company to manage a premium 4-star property in Himachal Pradesh's popular tourist destination.

Agreement Structure and Duration

The management agreement establishes a comprehensive 10-year partnership from the date of commercial commencement, with provisions for renewal on mutually agreed terms for successive 5-year periods. This long-term commitment demonstrates both parties' confidence in the venture's potential and provides operational stability for the property.

Property Features and Facilities

The Hotel KC Villas property offers extensive hospitality infrastructure designed to cater to diverse guest requirements. The facility encompasses multiple accommodation and dining options, along with recreational amenities that align with modern traveler expectations.

Operational Framework

Under the agreement terms, Sayaji Hotels Limited will assume complete management and operational responsibilities for the property. The company will implement its established brand standards and operational protocols while utilizing the "Enrise" brand identity, representing an extension of the Sayaji hospitality portfolio.

The management arrangement focuses on delivering comprehensive operational services that encompass all aspects of hotel operations, from guest services to facility management. This approach ensures consistent service quality and brand experience across the property's various amenities and services.

Regulatory Compliance

The company has confirmed that this transaction does not constitute a related party transaction, ensuring compliance with regulatory requirements. The agreement disclosure follows the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically under Regulation 30 and Schedule-III provisions.

This strategic partnership represents Sayaji Hotels Limited's continued expansion in the hospitality sector, leveraging its operational expertise to manage premium properties in key tourist destinations across India.

Sayaji Hotels Limited has entered into a new Hotel Management Agreement with Vicon Imperial (I) Private Limited for the Raipur property, marking a strategic transition from the previously terminated lease arrangement. The new agreement, effective from April 1, 2026, ensures continued operations at the significant revenue-contributing property in Chhattisgarh.

New Management Agreement Structure

The Hotel Management Agreement establishes Sayaji Hotels Limited as the operator and manager of the star-rated hotel owned by Vicon Imperial (I) Private Limited. Under this arrangement, the company will manage and operate the property while maintaining the "Sayaji" brand standards and operational excellence.

Property Specifications and Facilities

The Raipur property, located at Labhandi, Behind Magneto Mall, Raipur, Chhattisgarh, represents a comprehensive hospitality offering. The hotel features extensive accommodation and recreational facilities designed to serve diverse guest requirements.

Transition from Previous Arrangement

This management agreement represents a continuation of operations following the termination of the previous lease arrangement. The original lease agreement, executed on March 22, 2017, and amended on October 23, 2018, was terminated effective March 31, 2026, after serving for 15 years and 3 months. The property's significant contribution to company performance, representing 26.08% of total turnover and 19.84% of total EBITDA, underscores the strategic importance of maintaining operations through this new structure.

Related Party Transaction Disclosure

The agreement constitutes a related party transaction, as a relative of Mr. Raoof Razak Dhanani serves as a Director in Vicon Imperial (I) Private Limited. The company has disclosed this relationship in compliance with regulatory requirements, ensuring transparency in the transaction structure.

Regulatory Compliance and Documentation

The agreement disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company filed the requisite documentation on March 9, 2026, with detailed specifications provided in Schedule-III format, ensuring full compliance with stock exchange notification requirements.