Spice Islands Industries Ltd Enters Three-Year Hotel Management Agreement for 'The Somnath Inn'

Spice Islands Industries Ltd (Earlier known as Spice Islands Apparels Limited) has entered into a Hotel Management Agreement on February 13, 2026, for a minimum term of three years and a maximum of seven years. The agreement is with Himatbha Punabha Manek for operating and managing the hotel business of 'The Somnath Inn', situated at Devbhumi Dwarka, Gujarat. The Company is entitled to a management fee of 7% of total revenue and a one-time non-refundable set-up fee of Rs. 11,000 per room. The Owner remains responsible for statutory compliances, taxes, insurance, licences and major capital expenditure relating to the hotel property.