Spice Islands Industries Limited has signed a hotel management agreement to operate and manage The Somnath Inn in Devbhumi Dwarka, Gujarat. The arrangement spans three to seven years, aiming to leverage tourism potential and expand the company’s hospitality revenues.
Spice Islands Industries Limited, formerly known as Spice Islands Apparels Limited, has officially entered the hospitality sector with a significant hotel management agreement. On February 13, 2026, the company announced its partnership with Himatbha Punabha Manek to manage The Somnath Inn, a hotel property located in Devbhumi Dwarka, Gujarat—a region renowned for its tourism appeal.
Key Highlights
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The agreement covers a management term ranging from three to seven years, mutually decided by both parties
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The Somnath Inn will be operated and managed by Spice Islands Industries to strengthen its hospitality business portfolio
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The company will earn a management fee of 7% of total revenue along with a one-time non-refundable set-up fee of Rs. 11,000 per room
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The property owner retains responsibility for statutory compliances, taxes, insurance, licences, and major capital expenditure
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The deal is not categorized as a related party transaction under SEBI (LODR) Regulations, 2015
This strategic move positions Spice Islands Industries to capitalize on Gujarat’s thriving tourism sector, diversifying beyond its apparel roots and creating new revenue streams in hospitality.
Source: Spice Islands Industries Limited, BSE Filing