Vedant Hotels was incorporated on July 14, 1986 as a private imited company and was subsequently converted into a Public Limited Company on 12th February 1990. The company established a five star hotel (The Vedant ) at Aurangabad in 1995. The hotel has 100 rooms and is spread over an area of 1.5 acres in historic Aurangabad city in central Maharashtra known for world famous heritage sites of Ajanta & Ellora. The company came out with a public issue of Rs. 4 crores in 1995. Currently, Dhanada Portfolio Management Ltd. (DPML), Pune holds majority stake in the company.
In 2007 the company entered into an agreement with Kamat Hotels (India) Ltd for management / operation of 'The Hotel Vedant' at Aurangabad, Maharashtra, for a period of 10 years beginning from February 16, 2007. As per the terms of the agreement, the hotel was renamed as ‘Lotus Vedant’.
Business area of the company:
The company is engaged in the hospitality business with a Five Star hotel in Aurangabad.