Eco Hotels and Resorts Limited announced its latest venture under Regulation 30 of SEBI (LODR) Regulations, 2015. After receiving Board approval on July 31, 2024, the company signed an agreement to acquire three brand-new hotels with a total of 94 rooms in Maharashtra’s beautiful Sindhudurg district.
Sindhudurg, known for its stunning coastal scenery and rich history along the Konkan coast, offers an ideal location for Eco Hotels’ expansion. This lush district, covering about 5,207 sq. km and bordered by the Arabian Sea to the west, is easily accessible via the scenic Bombay-Goa route and Konkan Railway. The newly built properties, strategically situated near picturesque beaches, will reinforce the hotel’s commitment to reducing net carbon emissions and support their goal of reaching 500 rooms by the end of December 2024.
Vinod K Tripathi, executive chairman of Eco Hotels and Resorts Limited, said, ” We know that India’s tourism industry is rapidly expanding, with new destinations being added. Eco Hotels is eager to occupy a suitable space quickly. Despite the fact that this is our first year in operation, we already have over 200 rooms for operation. While adding a hotel to our operations, we are extremely conscious that any proposal we sign must be viable and win-win for all parties involved. We do not want to join the mad rush to take up hotels on unreasonable financial terms, causing the company to bleed tomorrow. We understand what profitability means to our investors, and we are focused on creating value for them. We are committed to being a long-term player in the field, with plans to have about 5000 rooms operational within the next five years. We have also commenced working on our EBOT model, which is based on 3D volumetric construction technology, and are on the verge of creating the first special purpose vehicle for the same.”
Akash Bhatia, CEO of Eco Hotels and Resorts Limited, said, “The addition of these three hotels in Sindhudurg marks a significant advance in our mission to provide eco-friendly accommodations with net carbon zero emissions. We are actively working on operational and marketing strategies to ensure these properties are up and running as soon as possible. These new hotels will embody our objective of leveraging eco-friendly practices while providing a unique and luxurious experience for our guests.”
