Aloft Bengaluru Whitefield, Whitefield

To
Mr. Hafizulla Baig
Hotel Aloft Bengaluru
Whitefield, 17C, Sadimanala Road
Opposite ITPL Main Road
Bengaluru, Karnataka – 560066

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Subject: Non-Binding Letter of Intent for Proposed Acquisition of Aloft Bengaluru Whitefield

Dear Mr. Baig,

This Non-Binding Letter of Intent (“LOI”) sets forth the preliminary understanding of [Company Name], a [jurisdiction] corporation with its principal place of business at [Company Address] (the “Company”), under the leadership of its Chairman, [Chairman Name], regarding the potential acquisition of the hotel property currently operating as Aloft Bengaluru Whitefield (the “Property”).

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1. Transaction Overview

The Company proposes to evaluate and pursue the acquisition of the Property as part of its strategic expansion in the upscale hospitality sector. The intent is to acquire ownership and operational control and continue operating the Property as a premium, internationally branded hotel asset quote for 580 Cr.

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2. Proposed Transaction Structure

Subject to further discussions, the transaction may include:

- Acquisition of the real estate and all related physical assets
- Acquisition of the operating business, including goodwill, if applicable
- Assignment or transfer of licenses, permits, and approvals (subject to regulatory consent)
- Transition of management and operational control
- Assumption of certain agreed-upon liabilities, if any

The definitive structure will be determined following due diligence and mutual agreement between the parties.

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3. Due Diligence

The Company’s interest is contingent upon completion of customary due diligence, including but not limited to:

- Legal, financial, and tax due diligence
- Title and ownership verification
- Review of operational performance and financial statements
- Evaluation of material contracts, licenses, and obligations
- Assessment of liabilities, encumbrances, and compliance matters

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4. Financial Capacity

The Company confirms that it has the financial capability and access to capital necessary to complete the proposed transaction and support ongoing operations, capital improvements, and future growth initiatives for the Property.

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5. Exclusivity (Optional)

At your consideration, the Company may request a mutually agreed exclusivity period to conduct due diligence and negotiate definitive agreements without engagement with competing bidders.

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6. Non-Binding Nature

This LOI is intended solely as an expression of interest and does not constitute a legally binding obligation on either party, except with respect to any provisions expressly agreed to be binding (if applicable). Any binding agreement will be subject to:

- Successful completion of due diligence
- Negotiation and execution of definitive agreements
- Agreement on final valuation and structure
- Receipt of required corporate and regulatory approvals

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7. Strategic Intent

The Company’s vision is to enhance the Property’s market position as a leading hospitality destination in Bengaluru by maintaining high service standards, optimizing operations, and investing in long-term asset value creation.

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This LOI follows preliminary discussions facilitated by Mr. R Manjappa and Mr. Touseef Mohamed. Mr Vijay kumar .We appreciate the opportunity to engage and request acknowledgment of this letter to proceed with the next steps.

We look forward to working collaboratively toward a successful transaction.

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Sincerely,
[Company Name]

[Name]
Chairman
[Company Name]