Sayaji Hotels Limited has entered into a Hotel Management Agreement with SPJ Recreational Centre Private Limited to manage and operate a 5-star hotel property located at Takve Khurd, Taluka Maval, near Wet and Joy Park, Pune district, Maharashtra.

Under the agreement, Sayaji Hotels will provide end-to-end operational and management services for the hotel in line with its brand standards. The contract has been signed for a period of 15 years from the date of commercial commencement, with an option to renew thereafter for successive 5-year terms on mutually agreed conditions.

As per the disclosed terms, the hotel will operate under the “SAYAJI” brand and will comprise 49 rooms, 71 villas, multiple dining options including specialty and rooftop restaurants, banquet halls and lawn, along with leisure amenities such as a gym, spa, swimming pool, and supporting infrastructure. The handover of the property is scheduled on or before December 31, 2027.

The company clarified that the transaction does not fall under related party transactions and has been executed on an arm’s length basis.