Apeejay Surrendra Park Hotels Limited has announced that it has signed a Memorandum of Understanding (MoU) with Raman Industrial Enterprises, a Mathura-based partnership firm, for the lease and operations of a new hotel project currently under development. The upcoming 42-room property is being constructed on a land parcel of around 1308 sq. meters located in Village Jaisinghpura Bangar, Tehsil Sadar, Mathura.
With this MoU, the company plans to take over and manage the hotel for a lease period of twelve years. The deal will move ahead once both sides complete the agreed conditions, secure the required statutory approvals, and formally execute the lease deed. As of now, the execution of the definitive Lease Deed is expected on or before March 31, 2026, unless both parties choose a different date.
The company noted that this update has been shared for the information of the stock exchange and its stakeholders, marking another step in its ongoing expansion strategy.