Chalet Hotels

Indian Hotel Chain Company

Chalet Hotels Limited

Company type| Private

Traded as

*     * NSE: CHALET
* BSE: 542399

Industry| Hospitality
Founded| 1986
Headquarters| Mumbai,

India

Area served

| India

Key people

*     * Sanjay Sethi (CEO)
* Milind Wadekar (CFO)
* Shwetank Singh (CGSO)
* Rajneesh Malhotra (VP)
* Vishal Sharma (SVP)
* Rashna Kapadi (AVP)

Services| Hotels and resorts
Website| www.chalethotels.com
Footnotes / references
[1]

Chalet Hotels Limited is an Indian hotel chain company founded in 1986 and part of K Raheja Corp.[2] It owns, develops, and manages assets and a hotel-led mixed-use developer in metro cities in Mumbai, Hyderabad, Bengaluru, and Pune.[3] It currently manages upscale hotels like JW Marriott Mumbai Sahar, Four Points by Sheraton Navi Mumbai, The Westin Hyderabad Mindspace, Bengaluru Marriott Hotel Whitefield, and The Westin Mumbai Powai Lake (Renaissance Hotel).[4][5][6]

## History

[edit]

Chalet was publicly listed on the National Stock Exchange and Bombay Stock Exchange on 7 February 2019.[7]

In 2020, the company signed a Share Purchase Agreement (SPA) for the purchase of the Pune-based Novotel Hotel and another affiliate entity for an aggregate enterprise value of ₹290 crore.[8] It partnered with US-based Marriott Hotels for over 1,500 keys in the luxury and upper-upscale hotel segment in India.[9]

In March 2023, the company acquired the 80-room resort The Dukes Retreat in Khandala, Maharashtra, for an enterprise value of ₹133 crore.[10][5]

In June 2023, in total the company have 2,800 keys (owned and leased rooms).[11] It launched its new all-women-operated hotel, The Westin Hyderabad HITEC City, in partnership with Marriott International.[12] In 2023, Tata Power Renewable Energy Limited (TPREL) has strategically partnered with the company for a power delivery agreement (PDA) for a captive project for 6 MW AC. Under this arrangement, from the renewable sources plant will generate 13.75 million units of clean energy.[13]

## References

[edit]

1. ^ "Leadership". Chalet Hotels official website. Retrieved 4 December 2023.
2. ^ "Now, investors can safely check into K Raheja Corp's Chalet Hotels". Business Standard. 28 Jan 2019. Retrieved 20 Sep 2023.
3. ^ "Multibagger stock: 200% in 2 years! Here's why ICICI Securities is betting on Chalet Hotels". Business Today. 2023-08-29. Retrieved 2023-09-20.
4. ^ Unnikrishnan, C H (2023-08-29). "Chalet Hotels plans 1000 more rooms across India; MD says all are under development already". cnbctv18.com. Retrieved 2023-10-04.
5. ^ a b Khosla, Varuni (2023-03-23). "Chalet Hotels acquires 80-room hotel in Khandala for ₹133 crore". mint. Retrieved 2023-09-20.
6. ^ "Chalet Hotels Limited unveils rebranded The Westin Mumbai Powai Lake - ET HospitalityWorld". ETHospitalityWorld.com. Retrieved 2023-12-06.
7. ^ Sonavane, Ravindra N. (2019-02-07). "Chalet Hotels lists at 4% premium on stock market debut". mint. Retrieved 2023-09-20.
8. ^ "Chalet buys Novotel, affiliate for Rs 290 crore". The Times of India. 2020-01-19. ISSN 0971-8257. Retrieved 2023-09-20.
9. ^ Chaturvedi, Anumeha (2020-01-02). "Chalet Hotels signs 5 new management deals with Marriott". The Economic Times. ISSN 0013-0389. Retrieved 2023-09-20.
10. ^ "Chalet Hotels plans 1000 more rooms across India; MD says all are under development already". cnbctv18.com. 2023-08-29. Retrieved 2023-09-20.
11. ^ Krishnan, Janaki (2023-09-29). "Hotel demand to grow in double digits with high rates, occupancies: CEO of Chalet Hotels". BusinessLine. Retrieved 2023-10-04.
12. ^ Joshi, Navisha (2023-06-06). "Chalet Hotels launches all-women operated hotel in Hyderabad, stock gains marginally". Moneycontrol. Retrieved 2023-09-20.
13. ^ "Tata Power hits 52-week high as arm signs agreement with Chalet Hotels". Moneycontrol. 2023-09-04. Retrieved 2023-10-04.

## External links

[edit]

* Official website