Signed MOU - Apeejay Surrendra Park Hotels Ltd

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Apeejay Surrendra Park Hotels Ltd entered into Memorandum of Understanding (MoU) with Katsons Hotel and Developer Private Limited and Mr. Ved Parkash Kataria, in relation to acquiring on lease and managing properties located at Goa (42 rooms), Manali (24 rooms), Shimla (24 rooms), and Dharamshala (48 rooms), under the Company's hospitality brand. The MoU contemplates a 12-year lease arrangement for all four properties with a total of 138 rooms. Post execution of definitive lease agreements, the properties in Goa and Dharamshala are expected to be operational within 60 days and the other two properties at Manali and Shimla within 90 days. This proposed arrangement is in line with the Company's strategic expansion into high-potential leisure destinations. The property in Goa will further strengthen the Company’s position in the market and the others will strengthen its position in the fast growing tourist market of Himachal Pradesh.