Business Update7 Mar 2026, 02:01 pm
Sayaji Hotels Terminates Lease Agreement with Vicon Imperial; Considers Management Contract
AI Summary
Sayaji Hotels Ltd has announced the termination of its lease agreement with Vicon Imperial (I) Private Limited for a hotel property in Raipur, Chhattisgarh, effective from 31st March 2026. The decision to terminate the agreement was made by the company's management. Post-termination, the owner has proposed a management contract whereby the company would operate and manage the property. This development will impact the company's revenue and EBITDA, as the Sayaji Raipur unit contributed 26.08% of the company's total turnover and 19.84% of the total EBITDA for the period ended 31st March 2025.
Key Highlights
- Sayaji Hotels terminates lease agreement with Vicon Imperial
- Agreement to be terminated from 31st March 2026
- Owner proposes management contract for company to operate and manage the property
- Termination to impact company's revenue and EBITDA
- Sayaji Raipur unit contributed significantly to total turnover and EBITDA