News & Analysis » India
IRB Infra Arm Executes Hotel Operating Agreement
(RTTNews) - IRB Infrastructure Developers Ltd. said its subsidiary Aryan Hospitality Pvt. Ltd. executed Hotel Operating Agreement and Technical Services and Development Assistance Agreement with The Indian Hotels Company Ltd. to operate and maintain a Gateway Hotel to be constructed by AHPL at Kolhapur, Maharashtra.
The proposed Gateway Hotel will be constructed by AHPL on a plot of land leased from IRB Kolhapur Integrated Road Development Co. Pvt. Ltd, company's subsidiary company.
The proposed hotel will have 100 to 125 guest rooms along with other modern recreation and leisure facilities. The proposed hotel will be constructed within 3 years.
At the BSE, IRB Infra shares are now trading at Rs.282.80, down by 1.99% from the previous close.
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