Hotel and hospitality company Eco Hotels And Resorts Limited shares jumped by about 5% to Rs. 41.55 on the BSE during Friday’s trading session after the company inked an agreement to open a hotel in Maharashtra.

As per the most recent regulatory documents submitted to the BSE, Eco Hotels and Resorts Limited has inked an agreement to establish a hotel with 94 rooms in Sindhudurg, Maharashtra.

Earlier on 23 May, the company’s board of directors gave approval to sign an agreement for opening a 63-room hotel in Kota, Rajasthan. 

In February, the board of directors of the company has approved the proposal to acquire a 100% stake of the shares of Vitizen Hotels Limited (VHL) and to execute an MOU with the VHL shareholders. As a part of the agreement, the company acquire all properties managed by VHL, which is a total of 1,075 operational rooms. 

According to the latest shareholding pattern of June 2024, retail Investors control 61.92% of Eco Hotels & Resorts, while Promoters own 38.08%.

Formerly known as Sharad Fibers and Yarn Processors Limited, Eco Hotels and Resorts Limited builds and manages hotels and provides ancillary services to the hospitality industry, including food and drink, ticketing, car rentals, tours, and more.

At 3:3- pm, the shares of Eco Hotels closed 4.49% higher at Rs 41.39 on BSE.

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