Apeejay Surrendra Park Hotels has signed a memorandum of understanding (MoU) with Katsons Hotel & Developer and Ved Parkash Kataria for the long-term lease and management of four hospitality properties located in Goa, Manali, Shimla, and Dharamshala.
The 12-year lease deal covers a total of 138 rooms—42 in Goa, 24 each in Manali and Shimla, and 48 in Dharamshala. All properties will be operated under Apeejay Surrendra Park Hotels’ portfolio of hospitality brands.
According to the company, the properties in Goa and Dharamshala are expected to become operational within 60 days of signing the final lease agreements, while those in Manali and Shimla are scheduled to be operational within 90 days.
Apeejay Surrendra Park Hotels manages a diverse portfolio under brands including The Park Hotels, The Park Collection, and Zone by The Park. In Q4 FY25, the company reported a 44% rise in consolidated net profit at INR26.56 crore, with revenue from operations increasing 16.3% to INR177.32 crore year-on-year.
