Chalet Hotels finalises $18m Seasons Hotels acquisition in Udaipur

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Chalet Hotels finalises m Seasons Hotels acquisition in Udaipur — Chalet Hotels finalises 18m Seasons Hotels acquisition in Udaipur.jpeg

Indian hotel developer and operator Chalet Hotels has recently made its foray into the Udaipur market by acquiring Seasons Hotels, the owning entity of Inder Residency Resort & Spa Udaipur, for a sum of Rs1.71bn ($18.1m). This strategic move is in line with Chalet Hotels’ expansion plans focused on leisure destinations in India, with a specific emphasis on premium positioning, asset enhancement, and long-term value creation.

The Inder Residency Resort & Spa Udaipur, situated on approximately 8.2 acres of land, boasts 144 rooms, expansive lawns, and banquet facilities, making it an ideal venue for weddings, meetings, conferences, and leisure stays. Chalet Hotels aims to revamp this non-operational property into an upper upscale or premium lifestyle destination. Additionally, the company plans to explore possibilities of expanding the resort and increasing the room inventory as part of the asset enhancement process.

Shwetank Singh, the Managing Director and CEO of Chalet Hotels, expressed his enthusiasm about the acquisition, stating, “We are thrilled to mark our presence in Rajasthan with the acquisition of this resort in Udaipur, a market we have been eager to enter. This investment underscores our commitment to expanding in high-growth leisure destinations with strong long-term potential. The property’s strategic location and untapped potential offer ample opportunities for value creation through refurbishment, repositioning, and expansion.”

Currently, Chalet Hotels owns, develops, and manages 11 hotels and resorts with a total of 3,389 keys, in collaboration with renowned brands such as JW Marriott, The Westin, and Novotel. The company has a pipeline of approximately 1,510 rooms and recently introduced the ATHIVA premium lifestyle brand. Furthermore, Chalet Hotels is expanding its commercial real estate portfolio, aiming to increase its footprint from 2.4 million square feet to 3.3 million square feet.

In a bid to enhance its offerings, in June 2024, Chalet Hotels announced plans to renovate a cluster of three properties across India, including the Four Points by Sheraton Navi Mumbai, The Resort at Madh Island Mumbai, and The Dukes Retreat at Lonavala.

The acquisition of Seasons Hotels in Udaipur underscores Chalet Hotels’ strategic growth trajectory, focusing on creating high-quality, experience-driven destinations that deliver exceptional guest experiences and long-term value. This article was originally published by Hotel Management Network, a GlobalData-owned brand.

Disclaimer: The information provided in this article is intended for general informational purposes only. It is advisable to seek professional advice before making any decisions based on the content.