Apeejay Surrendra Park rises after signing deals to acquire new hotel asstes

Apeejay Surrendra Park Hotels advanced 3.71% to Rs 137 after the company said that it has signed an agreement to purchase new hotel assets in Kerala, which include a lakefront property named 'Purity' and a luxury houseboat named 'Discovery'.

The acquisition is structured by purchasing a 100% ownership stake in two companies viz., THALI Hotels and Destinations (THALI) and Fishermans Grove Resorts (FGRPL).

By acquiring these two companies, the company would secure full ownership of the new hotel property.

Further, the company has executed two separate agreements to acquire another property, 'The Malabar House', located in Fort Kochi, Kerala.

First, the company signed a lease deed with Cochin Residency (CRPL), which owns the hotel premises. Second, the company executed a share purchase agreement to acquire at least a 90.96% stake in CRPL, with the option to increase this to a 100% ownership stake.

 

This acquisition includes the hotel property itself, which sits on freehold land, along with all existing structures, furniture, fixtures, and associated rights and amenities.

Upon consummation of the aforesaid transactions with THALI and CRPL as per the terms of the transaction documents, the properties namely 'Purity and 'The Malabar House will be held by the company, and consequently, the financial results of these properties will form part of the consolidated financial statements of the company.

Apeejay Surrendra Park Hotels is primarily engaged in the business of owning, operating and managing hotels in India under the names The Park Hotels, The Park collection and Zone by the Park.

The company's consolidated net profit declined 39.44% to Rs 16.20 crore despite a 16.83% rise in revenue to Rs 165.39 crore in Q2 FY26 as compared with Q2 FY25.

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