Chalet Hotels Explained

Chalet Hotels Limited
Type:Private
Industry:Hospitality
Founded:1986
Hq Location:Mumbai
Hq Location Country:India
Area Served:India
Services:Hotels and resorts
Footnotes:[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]

History

Chalet was publicly listed on the National Stock Exchange and Bombay Stock Exchange on 7 February 2019.[6]

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.[7] It partnered with US-based Marriott Hotels for over 1,500 keys in the luxury and upper-upscale hotel segment in India.[8]

In March 2023, the company acquired the 80-room resort The Dukes Retreat in Khandala, Maharashtra, for an enterprise value of ₹133 crore.[9] [10]

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]

Notes and References

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

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