This Luxury Hospitality Company Signed a Hotel Management Agreement with Indian Hotels Company Ltd for The Proposed Hotel Bangaram Island, Lakshadweep

Company has been maintaining a healthy dividend payout of 47.5 per cent.

Praveg Limited, a prominent hospitality services provider, announced a strategic partnership with Indian Hotels Company Limited (IHCL), one of India’s leading hotel chains. As part of this agreement, IHCL will manage Praveg Limited’s pristine property namely Praveg Atoll’s located on the breathtaking Bangaram Island in Lakshadweep. The resort will be classified under the prestigious SeleQtions brand, further elevating its luxury offerings.

This collaboration marks a significant milestone in Praveg Limited’s commitment to offering worldclass hospitality experiences in one of India’s most unique and sought-after destinations. With IHCL’s established reputation for excellence in luxury hospitality, this partnership will ensure that Bangaram Island’s resort property will offer guests an unforgettable experience while maintaining the highest standards of service and sustainability.

Dr. Vishnukumar Patel, Chairman of Praveg Limited, expressed his enthusiasm, stating, “We are thrilled to partner with the Indian Hotels Company Limited, a leader in the hospitality industry, to manage our exceptional property on Bangaram Island. IHCL’s expertise in managing luxury resorts and its commitment to sustainability align perfectly with our vision for this island paradise. This partnership will ensure that guests experience the very best in hospitality, while preserving the natural beauty of the island for future generations. This collaboration is a testament to Praveg Limited’s reputation for quality and innovation in the hospitality sector.”

Bangaram Island, located in the heart of the Lakshadweep archipelago, is a secluded paradise surrounded by turquoise waters, soft white sands, and vibrant coral reefs. The island offers a peaceful, untouched environment, making it a perfect destination for travelers seeking both seclusion and convenience. The island is renowned for its incredible marine life, making it a sought-after location for nature lovers, scuba divers, and those looking to reconnect with nature

Lakshadweep is fast emerging as a sought-after travel destination, attracting both domestic and international tourists. In recent years, the archipelago has witnessed a steady rise in tourism, with thousands of visitors exploring its untouched beauty. As India continues to develop its coastal and island tourism sector, Lakshadweep is poised to become a major hotspot for high-end travelers seeking exclusive, nature-centric experiences.

About Praveg Limited

Praveg is a pioneer in eco-responsible luxury hospitality. The Company’s resorts are located in areas of significance from a cultural and heritage point of view and places of exotic and natural beauty. The company’s luxury resorts allow access to locations, where no traditional construction is possible, which allows tourism to flourish while ensuring the preservation of delicate local ecosystems.

Due to the premium quality of the company’s resorts and the high-end experience, the resorts enjoy very high occupancy, strong pre-sales at luxury hotel rates and a high return on capital due to the non-permanent structure of the resort. Praveg is also a strong player in events due to its roots in event management and expertise in creating large, non-permanent, world-class structures in very short periods of time. The Events division has recently diversified into Weddings and Banquets hotels.

With a market capitalisation of Rs 1,214 crore and a PE ratio of 94.1x, the company trades at a premium compared to the industry PE of 33x. Company has been maintaining a healthy dividend payout of 47.5 per cent.

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Disclaimer: The article is for informational purposes only and not investment advice.