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Chalet Hotels: A benchmark of modern Indian hospitality
For close to a decade, Chalet Hotels has distinguished itself through clarity of purpose. Under Dr Sethi’s stewardship, the company redefined what modern Indian hospitality should embody — asset-anchored, people-first, and guided by long-term conviction rather than short-term momentum. As he transitions from MD & CEO to a non-executive role, the narrative of Chalet, and now Athiva Hotels & Resorts, continues to echo his philosophy: for our guests and colleagues — Joy, Wellness and Sustainability.
A JOURNEY BUILT ON CONVICTION
“Looking back, what stands out is how vision, conviction and execution were consistently aligned,” says Dr. Sethi. “When I re-joined Chalet in 2018, I saw a platform with immense potential — not merely to scale, but to redefine the contours of hospitality in India.”
For the IHM Pusa graduate and Certified Hotel Administrator, Chalet quickly evolved from an organisation to a purpose — one built on three foundational pillars.
ASSET OWNERSHIP
“While much of the industry embraced asset-light strategies, we believed enduring value is created by owning high-quality assets in the right locations and operating them with unwavering excellence.”
PEOPLE
“A hotel ultimately reflects its people. At Chalet, empowerment is not rhetoric — it is a lived organisational ethos. That commitment is why we have been recognised as a Great Place to Work for six consecutive years.”
DIVERSIFICATION
“We expanded beyond hospitality into commercial and residential real estate to build a robust, synergistic platform that can withstand business cycles and create long-term resilience.”
The 2019 IPO became a defining inflection point. “It was far more than a financial milestone — it reaffirmed the strength of our fundamentals and the confidence the market placed in our strategy.”
From 2,300 keys in 2018, the company expanded to over 3,300 operational keys with another 1,200 in the pipeline — growth anchored in discipline. “Scale means little if it comes at the expense of integrity,” he notes.
BALANCING OWNERSHIP, PARTNERSHIP AND CAPABILITY
Chalet’s model has remained steadfast — owning marquee assets, partnering with global brands, and simultaneously developing strong internal capability. Partnerships with Marriott, Taj, Hyatt and Accor provided global reach and operational consistency. Select in-house operations strengthened agility, focus and asset understanding.
“The upcoming Taj at Delhi Airport — a fully owned and operated asset under franchise — exemplifies our confidence in our internal capability.”
The recently launched Athiva Hotels & Resorts marks the next natural evolution. “Athiva is our homegrown premium lifestyle brand founded on the pillars of joy, wellness and sustainability. It represents our promise — the assurance of the expected and the joy of the unexpected.”
SHAPING HOSPITALITY, ONE MILESTONE AT A TIME
Among the many milestones, the 2019 IPO remains a bold affirmation of India’s hospitality potential. A strategic pivot into leisure hospitality added a significant new dimension.
The iconic Dukes Retreat in Khandala — Chalet’s first leisure acquisition — carried both legacy and emotional resonance. Re-envisioned today as Athiva Resort & Spa, Khandala, it proudly anchors the new brand ethos.
Expansions such as Courtyard Aravali, Westin Rishikesh, and the 520-key expansion at Marriott Whitefield further strengthened the portfolio. Soon, the Taj at Delhi Airport will showcase Chalet’s full-cycle capability — from ownership and design to operations.
Yet for Dr Sethi, the most enduring achievements lie beyond the numerical. “Metrics shift. Valuations evolve. But culture — culture is what endures.”
SCALE WITH DISCIPLINE
If one philosophy encapsulates Chalet’s growth, it is discipline. “Post-IPO, we had the capital and the opportunity to accelerate rapidly, but we chose prudence,” he explains. The company strengthened its balance sheet and remained focussed on acquiring only those assets that met its stringent standards — large-format hotels in gateway cities with strong demand fundamentals.
“We declined more opportunities than we accepted, because every ‘yes’ had to align strategically — not emotionally.”
Transparency further anchored the company’s culture. Early issue-surfacing, open debate and collective resolution became standard practice — enabling growth without compromising agility.
PASSING THE TORCH
For Dr Sethi, leadership is ultimately defined by the ability to build a culture that outlasts individuals. “This transition is the most authentic test of whether our culture has taken root — and I am proud that it has.”
A strong leadership bench was intentionally cultivated. Shwetank Singh, as Chief Growth & Strategy Officer, was integrated into all strategic and board-level deliberations. Gaurav Singh, with decades of operational excellence, strengthened execution as COO. Nitin and Salil reinforced finance and project capabilities, forming a well-rounded leadership core.
As he steps into his non-executive role, his counsel remains grounded in enduring principles: “Put people first. Think like owners. Stay thoughtfully contrarian. And always do the right thing.”
He adds, with characteristic clarity: “Business is ultimately about human connection. When people feel valued, performance becomes a natural outcome.”
LOOKING AHEAD
With Shwetank’s strategic depth and Gaurav’s operational strength, Dr. Sethi believes Chalet’s next chapter will be its most compelling yet.
He leaves future leaders with a final reminder that underscores humility, governance and continuity: “The day you believe you cannot be replaced is the day you become a problem.”
Source: BW Hotelier