Sayaji Hotels Limited has entered into a Hotel Management Agreement with SPJ Recreational Centre Private Limited to manage and operate a premium hotel property located at Takve Khurd, Taluka Maval, near Wet and Joy Park in Pune district, Maharashtra. The development marks another addition to Sayaji Hotels’ managed portfolio in western India and will be operated strictly in line with the company’s established brand standards.
Under the agreement, Sayaji Hotels Limited will be responsible for complete hotel operations and management of the property, which will be branded as “SAYAJI”. The arrangement has been signed for a period of 15 years from the date of commercial commencement of the hotel. Upon completion of this initial term, the agreement may be renewed for successive periods of five years on mutually agreed terms.
The hotel is planned as a 5-star rated property featuring a mix of accommodation and leisure infrastructure. The development will include 49 room keys and 71 villas with bedroom and hall configurations, supported by multiple food and beverage outlets such as a coffee shop-cum-restaurant, a speciality restaurant, and an open rooftop restaurant. In addition, the property will house two banquet halls, a banquet lawn, spa and wellness facilities, a gym, a swimming pool, guest and service lifts, and complete back-of-house and administrative areas.
As per the agreement, the handover of the hotel property to Sayaji Hotels Limited for operational management is scheduled on or before 31 December 2027. The transaction does not fall under related party transactions and has been executed on a commercial basis.
