Mumbai, November 23, 2023: Eco Hotels and Resorts Limited is pleased to announce the Board’s in-principle approval for entering into an MOU with M/s. Accsol Management Services Private Limited. This strategic move encompasses the operation and management takeover of 467 hotel rooms in phases. The Board thoroughly examined the draft MOU, empowering the company to incorporate any essential last-minute modifications, with the finalized MOU set for presentation at the upcoming Board meeting.

Mr. Jay Krishnan, the Co-Founder and Group CEO of Eco Hotels UK PLC, played a pivotal role in the MOU signing. Recently appointed as Director and Strategic Advisor of Eco Hotels and Resorts Ltd, he brings more than 25 years of hospitality expertise, with previous affiliations with renowned international hotel brands.

Mr. Binsy, a seasoned veteran in the hotel industry, signed the MOU on behalf of Accsol Management Services Private Limited. In line with the agreement, Mr. Binsy will not only join the company but also become an integral part of the core management team, providing strategic advice on future acquisitions and their management. The signing ceremony was attended by Mr. Vikram Doshi, the company’s CFO.

“I am delighted to join this journey and eagerly anticipate bringing the Ecological and Economical promise to the discerning Indian hospitality market. The well-balanced approach of Eco Hotels presents an exciting proposition, and as a team, we are committed to executing the envisioned strategy,” expressed Vinod K Tripathi, Executive Chairman of Eco Hotels and Resorts. 

“The projected expansion of the Indian travel market to US$125 billion by FY27, up from an estimated US$75 billion in FY20, presents a lucrative opportunity. Eco Hotels offers investors a proven and scalable entry into the thriving Indian hospitality sector. With a surge in hotel demand post-COVID, India’s Hotel and Tourism sector is poised for substantial growth in the coming decade. ” Stated Jay Krishnan, Director and Strategic Advisor of Eco Hotels UK PLC.