Chalet Hotels to Enter Rajasthan Market With Udaipur Resort Acquisition
Photo Credit: City Palace in Udaipur. Pexels / Muhammed Shasal A V
Skift Take
For Chalet Hotels, the growth lies not in moving away from its core asset ownership model, but in acquiring the right property at the right location, and Udaipur fits the bill.
Luxury hotel developer Chalet Hotels’ board has approved the proposed acquisition of a company that owns a resort property in Udaipur. In an exchange filing, the hotel developer said the acquisition has been approved at a proposed consideration of INR 1.7 billion ($18.9 million).
This will mark Chalet’s entry into the high-stakes Rajasthan market.
The company refused to share more details regarding this move. “We are not in a position to share any additional information other than the disclosures made on the Stock Exchanges,” Chalet spokesperson said in response to a Skift query. The spokesperson said further details would be shared after the legal and financial formalities are completed.
Balancing Asset-Light With Asset-Right: In October, Chalet launched its own premium lifestyle hospitality brand Athiva Hotels and Resorts. The decision came as the company is looking to evolve from a hotel asset owner into a brand-led hospitality platf
