Chalet Hotels to acquire 144-room Udaipur resort for Rs 171 crore
Chalet Hotels to acquire 144-room Udaipur resort for Rs 171 crore

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Chalet Hotels to acquire 144-room Udaipur resort for Rs 171 crore

New Delhi: Chalet Hotels Limited is set to acquire Seasons Hotels Private Limited -- the owning entity of the 144-room Inder Residency Resort & Spa Udaipur -- for a total consideration of Rs 171 crore, with its Board approving the proposal on Friday.

The acquisition, to be executed through purchase of 100 per cent of equity shares in tranches, will be completed by May 15, 2026 or such date as may be mutually agreed upon by the parties involved. It marks Chalet Hotels' foray into Udaipur.

The company is in the process of entering into definitive agreements with the parties.

"The Board of Directors at its meeting held today on April 24, 2026 approved the acquisition of Seasons Hotels Private Limited, owning company of a 144-room hotel -- Inder Residency Resort & Spa, Udaipur in the state of Rajasthan, for a consideration of Rs 171 crore.

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"The acquisition is in line with the company's expansion strategy to diversify the portfolio to include leisure properties spanning different geographies," a regulatory filing stated.

The property will be upgraded to an upper upscale/premium lifestyle destination and remain non-operative during this period. Chalet Hotels Limited will evaluate the possibility of expanding the property and adding additional rooms, the company said.

Shwetank Singh, Managing Director & CEO, Chalet Hotels Limited, said: "We are delighted to announce our entry into Rajasthan with the acquisition of this resort in Udaipur, a market we have been keen to enter. This investment reflects our continued focus on expanding in high-growth leisure destinations with strong long-term potential.

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"The property is well-located and offers significant headroom for value creation through refurbishment, repositioning, and expansion. As we enhance and reposition the resort, our focus will be on creating a high-quality, experience-led destination that delivers both strong guest appeal and long-term value," Singh said.

Source: The Economic Times

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