Business brief

Business brief

*Eco Hotel & Resorts signs MoU with Accsol for management of 467 hotel rooms New Delhi, Nov 23 (PTI) Eco Hotels and Resorts Ltd on Thursday said it has signed an agreement with Coimbatore-based Accsol Management Services for taking over more than 10 properties with more than 467 rooms for operation and management.

Eco Hotels, in a statement, said that its board has approved in principle an MoU for the operation and management of hotel properties with 467 rooms in phases.

The company said it intends to expand its business in India and enhance its growth in the Indian market, and the parties are desirous to explore and develop business opportunities of mutual interest in India.

Under the MoU, Accsol Management Services Pvt Ltd (AMSPL) will assign the lease or operation and management for the relevant target hotel properties to Eco Hotels in phases.

Five properties with a total of 212 keys will be acquired through a lease or management contract in the first phase. Another six properties with a total of 255 keys will be taken on lease starting in FY2024-25, the statement said. PTI MR BAL BAL BAL

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