Business Update27 Sept 2026, 06:00 pm
Spice Islands Industries Opens 'The Ocean Prime' Hotel
AI Summary
Spice Islands Industries Ltd has announced the successful opening ceremony of its newly leased hotel, 'The Ocean Prime', on September 25, 2026. The company commenced operations of the 26-room hotel, which includes restaurant facilities, following a Hotel Lease & Operating Agreement signed on June 25, 2026, with Ladhu Kara Charities. The agreement is valid for 11 months and 29 days, ending June 30, 2027. This move is part of the company's strategy to expand its hospitality business and generate additional revenue.
Key Highlights
- Spice Islands Industries commenced operations of 'The Ocean Prime' hotel.
- The hotel features 26 rooms and restaurant facilities.
- Lease and operating agreement is with Ladhu Kara Charities.
- The expansion aims to grow the company's hospitality business.
- Monthly lease rent is ₹3,00,000 with a 10% annual escalation.
Price Impact
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