Eco Hotels signs MoU for 3 properties, aims 500 rooms capacity by year-end

New Delhi, Aug 23 (PTI) Eco-friendly hospitality company Eco Hotels and Resorts on Friday announced signing an initial pact for acquiring three properties in Sindhudurg, Maharashtra, as part of its expansion plans.

The company also said it is aiming for 500 rooms across its properties by December this year.

The addition of these proposed properties, with 94 rooms, which are located near the beaches, will help it achieve the target, Eco Hotels & Resorts said in a statement. The company said it has already secured the Board’s approval for the proposed acquisition on July 31.

The company is actively working on operational and marketing strategies to ensure these properties are up and running as soon as possible, Eco Hotels and Resorts CEO Akash Bhatia said.

“India’s tourism industry is rapidly expanding, with new destinations being added. Eco Hotels is eager to occupy a suitable space quickly,” Eco Hotels and Resorts Executive Chairman Vinod K Tripathi said.

“We are committed to being a long-term player in the field, with plans to have about 5000 rooms operational within the next five years,” he added.

BSE-listed Eco Hotels and Resorts has more than 200 room capacity at present.

Shares of the company were trading 4.99 per cent higher at Rs 48.57 on BSE.