Hospitality Firm Purchases Seasons Hotels for ₹171 Crore, Plans Major Overhaul
Chalet Hotels Limited has declared its entry into the Rajasthan hospitality landscape with the acquisition of Seasons Hotels Private Limited, the entity behind the Inder Residency Resort & Spa Udaipur. The deal, valued at ₹171 crore, signals the company's strategic pivot towards expanding its presence in what it terms "high-growth leisure destinations."
The acquired property, situated on approximately 8.2 acres and boasting 144 rooms, is slated for a temporary closure. Chalet Hotels intends to embark on a significant upgrade, aiming to rebrand it as an "upper upscale or premium lifestyle destination." The company is also reportedly examining the potential for expansion, which could include adding more rooms to the site. This move away from its typical urban-centric portfolio underscores a broader diversification strategy.
The acquisition of Seasons Hotels, which reported a turnover of ₹74.3 million for the fiscal year 2024-25, a decrease from the previous year's ₹103.5 million, is framed by Chalet Hotels as a step towards "asset enhancement and long-term value creation." The company currently manages 11 operational hotels with a total of 3,389 keys. Notably, Chalet Hotels has also highlighted its commitment to sustainability, achieving an 82 ESG score in the recent S&P Global Corporate Sustainability Assessment, placing it second globally within its category. The announcement saw a slight upward movement in Chalet Hotels' share price, with a 0.41% increase observed following the news.
Read More: Companies Get Tariff Refunds, Consumers See Little Change
