Sayaji Hotels spurts after subsidiary signs eight deals to expand properties across India

Sayaji Hotels jumped 4.28% to Rs 240.95 after its wholly owned subsidiary, Sayaji Hotels Management (SHML) signed and entered into eight management agreements/franchise agreements/term papers to expand SHML by owning new properties.

Sayaji Hotels Management (SHML), the wholly owned subsidiary of Sayaji Hotels, will have properties in: Pithampur (Madhya Pradesh), Rewa (Madhya Pradesh), Sangli (Maharashtra), Aurangabad (Maharashtra), Dwarka (Gujarat) and Satara (Maharashtra). ), Lonavala (Maharashtra) and Sarula (Maharashtra).

On a consolidated basis, Sayaji Hotels net loss was Rs 2.98 crore in Q2 FY22 as compared to Rs 4.48 crore net loss in Q2 FY21. Net sales settled at Rs 37.05 crore in Q2 September 2021, registering a growth of 2%. 316.80% from Rs.8.89 crore in the second quarter of September 2020.

Sayaji Hotels operates in the field of hotel management. The company provides hotel, restaurant and banquet services.

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(This story has not been edited by Business Standard employees and is automatically generated from a shared feed.)

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