Vikram Kamats Hospitality Suspends Operations at Flagship Resort Following Flash Floods
Vikram Kamats Hospitality Ltd has temporarily suspended all operations at its flagship property, VITS Kamats Resort Silvassa (Dadra and Nagar Haveli). The suspension comes after unexpected flash floods and severe waterlogging in the region rendered normal business activities impossible.The resort’s operation was halted following continuous torrential rainfall, which led to the adjacent river breaching its banks. The floodwater entered the hotel premises, necessitating the immediate evacuation of staff and guests as a precautionary measure for safety. Furthermore, the main connecting bridge leading to the property was overcome by water, completely disrupting safe road access to the facility.
The company is currently assessing the full impact of this natural calamity on its assets and operations while monitoring the situation alongside local municipal authorities. The management expects that operations will gradually normalize over the next few days, provided no unforeseen circumstances arise.
Operational Impact Assessment
Details regarding the disruption of operations at VITS Kamats Resort Silvassa due to the force majeure event have been assessed as follows:| Particulars | Details |
|---|---|
| Expected quantum of loss/damage caused | The Company is currently assessing the impact on its assets and operations. |
| Whether loss/damage covered by insurance or not including amount | The Company has adequate insurance coverage, and the incident has been communicated to the insurance company. |
| Estimated impact on the production/operations in case of strikes/lock outs | The Company is conducting a full operational assessment and expects gradual normalization within the coming days. |
| Factory/Unit where the disruption takes place including reasons for such strike | Temporary suspension at VITS Kamats Resort Silvassa due to force Majeure (Flood Situation). There is no case of strike or lock-out. |
The Company has stated that it will submit a subsequent update regarding the resort's operations as soon as normal functioning resumes.
Stock Price Movement
As of 10:45, shares of Vikram Kamats Hospitality Ltd are ticking up by 0.97%, trading at ₹39.50. The stock has moved within an intraday range established between a low of ₹37.81 and a high of ₹39.90.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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