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An update from Viceroy Hotels Ltd ( (IN:VHLTD) ) is now available.
Shareholders of Viceroy Hotels Limited have approved the acquisition of SLN Terminus Hotels and Resorts Private Limited, which operates a Marriott-associated, 75-room long-stay hotel in Hyderabad’s Gachibowli area on leased premises with additional parking and land share. The related-party transaction, involving common director S. Prabhaker Reddy, has been executed on an arm’s-length basis and is intended to expand Viceroy’s strategic portfolio in the hospitality segment, strengthen its market presence and asset base, and generate operational synergies, cost efficiencies, and enhanced revenue and profitability through alignment with Marriott-branded operations.
More about Viceroy Hotels Ltd
Viceroy Hotels Limited is an India-based hospitality company operating in the hotel and resorts segment, with a focus on branded, upscale properties. The group’s operations are aligned with leading international hotel brands, positioning it in the organized, higher-end segment of the domestic hospitality market.
Average Trading Volume: 27,925
Technical Sentiment Signal: Hold
Current Market Cap: 10.09B INR
See more data about VHLTD stock on TipRanks’ Stock Analysis page.