Sayaji Hotels Signs 15-Year Management Deal for New 5-Star Resort Near Pune

Sayaji Hotels Limited has notified BSE that it has signed a Hotel Management Agreement with SPJ Recreational Centre Private Limited for a premium resort property at Takve Khurd, Taluka Maval, near Wet and Joy Park, Pune (Maharashtra). Under the deal, Sayaji will provide full operational and management services in line with its brand standards.
​
The agreement runs for 15 years from the date of commercial commencement of the hotel, with an option to renew for successive 5-year terms on mutually agreed conditions. The property will operate under the “SAYAJI” brand, expanding the group’s footprint in the high-growth Pune leisure and MICE corridor.
​
Key Highlights

• Counterparty: SPJ Recreational Centre Private Limited.
• ​Asset Profile: 49 rooms, 71 villas, 2 banquet halls, banquet lawn, multiple restaurants, rooftop venue, gym, spa, swimming pool and other ancillary facilities.
• ​Branding: Property to be run as a Sayaji-branded 5-star hotel.
• ​Tenure: 15-year initial term; renewable for 5-year blocks thereafter.
• ​Timeline: Handover of the hotel to Sayaji on or before 31 December 2027.

Source: Sayaji Hotels Limited stock exchange filing