Kamat Hotels Signs Agreement With Dwarka Hotel ; Shares Fall 4%

Mumbai, May 15: Kamat Hotels (India) Limited announced the signing of an agreement for the management and operations of a second luxury hotel in Dwarka, Gujarat, under its flagship “The Orchid” brand.

According to the company’s regulatory filing on Thursday, the proposed property will feature around 63 guest rooms along with a banquet hall, swimming pool, spa, gymnasium, restaurant and rooftop lounge facilities.

The company stated that the hotel is expected to become fully operational by December 2026. The development marks an expansion of Kamat Hotels’ Gujarat hospitality footprint amid rising pilgrimage and tourism activity in Dwarka.

As per company’s press release, the property has been designed to cater to both religious travellers and leisure visitors. Dwarka remains one of India’s major pilgrimage destinations and has witnessed increasing infrastructure development linked to tourism growth.

Kamat Hotels executive chairman and managing director Dr Vitthal Kamat, said the agreement strengthens the company’s premium hospitality presence in Gujarat and supports its environmentally sensitive hospitality positioning.

The company added that the expansion aligns with growing demand for organised hospitality infrastructure in key spiritual tourism circuits.

Stock Market Snapshot

Kamat Hotels share price traded lower on May 14 despite the company announcing the Dwarka expansion agreement.

As of 3:30 PM IST on May 14, 2026, the stock was trading at ₹161.48 on the National Stock Exchange, down 4.26% from the previous close of ₹168.66, according to exchange data.

The Kamat Hotels share price moved between ₹157.60 and ₹170.51 during the trading session. The decline came even as the company disclosed plans to expand its Orchid-branded hospitality portfolio in Gujarat.

The company’s market stood at approximately ₹476 crore based on exchange data.

Company Background

Kamat Hotels (India) Limited operates in the hospitality sector with a portfolio of hotels, resorts and restaurants across India. The company is known for its Orchid hotel brand, positioned around environmentally sensitive and sustainable hospitality operations.

The company manages hospitality properties across business, leisure and pilgrimage destinations. Its portfolio includes upscale hotels, eco-focused hospitality offerings and premium accommodation services.

Dwarka, located on the western coast of Gujarat, remains one of the Char Dham pilgrimage sites and continues to attract substantial tourist inflows annually.

Conclusion

The Dwarka agreement adds another managed property to Kamat Hotels’ Orchid portfolio and strengthens the company’s presence in Gujarat’s pilgrimage tourism market.

The expansion also reflects continued investment interest in hospitality infrastructure linked to religious and cultural travel circuits. However, the stock ended lower on the day despite the operational expansion announcement.

Source:

• https://www.nseindia.com/get-quote/equity/KAMATHOTEL/Kamat-Hotels-(I)-Limited
• https://nsearchives.nseindia.com/corporate/KAMATHOTEL_14052026184442_SEIntimation.pdf