Eco Hotels declares plans to expand in Sindhudurg

Eco Hotels has announced its expansion plans in Sindhudurg.

Eco Hotels and Resorts Limited recently announced a new project under Regulation 30 of the SEBI (LODR) Regulations, 2015. Following board approval on July 31, 2024, the company has signed an agreement to acquire three new hotels with a total of 94 rooms in the Sindhudurg district of Maharashtra. Sindhudurg, known for its beautiful coastal scenery and rich history, is an ideal location for Eco Hotels’ latest venture. The district covers approximately 5,207 square kilometres and is bordered by the Arabian Sea on the west. The new properties, strategically located near scenic beaches, will help the hotel reduce net carbon emissions and work towards its goal of reaching 500 rooms by the end of December 2024. Vinod K. Tripathi, Executive Chairman of Eco Hotels and Resorts Limited, said, “We recognise the rapid growth of India’s tourism industry and aim to swiftly establish our presence. Even though we are in our first year of operation, we already have over 200 rooms in operation. As we expand, we are mindful that any new agreement must benefit all parties involved. Our goal is to avoid acquiring hotels on unfavourable financial terms, as we understand the importance of profitability for our investors. We are committed to being a long-term player in the industry and plan to have around 5000 rooms operational within the next five years. We have also started working on our EBOT model, based on 3D volumetric construction technology, and are about to establish the first special-purpose vehicle for the same.” Akash Bhatia, CEO of Eco Hotels and Resorts Limited, added, “The addition of these three hotels in Sindhudurg marks a significant step forward in our mission to provide eco-friendly accommodations with net carbon-zero emissions. We are actively developing strategies to swiftly launch these properties while upholding our commitment to eco-friendly practices and delivering a unique and luxurious experience for our guests.” ALSO READ: The Leela Ambience Convention Hotel in Delhi has appointed Abhissek Basu as its new hotel manager.