Real Estate
Chalet Hotels to Acquire Udaipur Resort for ₹171 Crore
Chalet Hotels has approved the acquisition of Seasons Hotels, the owner of a 144-room resort in Udaipur, Rajasthan, for a total consideration of ₹171 crore, marking its entry into the state's hospitality market.
New Delhi, April 24: In a regulatory filing, the company said the acquisition will be executed in tranches and involves the purchase of 100% equity in Seasons Hotels.
Property Details
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Property name: Inder Residency Resort & Spa, Udaipur
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Land area: ~8.2 acres
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Rooms: 144
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Features: Banqueting and outdoor event spaces (leisure, weddings, meetings segments)
Plans
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The asset will undergo refurbishment and repositioning (non-operational during this period)
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The company will evaluate expansion opportunities, including addition of more rooms
Strategic Rationale
The acquisition is part of the company's strategy to diversify its portfolio by expanding into leisure destinations across India , beyond its existing presence in metro-driven business hotel markets.