About Chalet Hotels Limited

Chalet Hotels Limited is a leading Indian hospitality company with a portfolio of upscale and luxury hotels, resorts, and integrated commercial assets across key city and leisure markets. Incorporated in 1986, the company is part of the K Raheja Corp group, and partners with globally renowned hotel operators to deliver premium guest experiences in Mumbai Metropolitan Region (MMR), Hyderabad, Bengaluru, NCR, Pune, Khandala and the Uttarakhand Himalayan foothills. Its operating hotel brands include JW Marriott, The Westin, Courtyard by Marriott, Four Points by Sheraton, Novotel, and Marriott Executive Apartments; pipeline additions include Hyatt Regency and Taj, reflecting Chalet’s strategy of aligning high-quality assets with best‑in‑class operators .

Chalet’s core business spans:

– Hospitality (owned, developed and actively asset‑managed hotels and resorts).
– Rental & Annuity (leasing Grade A commercial spaces).
– Real Estate (a residential project in Koramangala, Bengaluru) .

Key portfolio assets include JW Marriott Mumbai Sahar; The Westin Mumbai Powai Lake; Lakeside Chalet, Mumbai – Marriott Executive Apartments; Four Points by Sheraton Navi Mumbai, Vashi; Bengaluru Marriott Hotel Whitefield; The Westin Mindspace Hyderabad; Novotel Pune Nagar Road; The Westin Hyderabad HITEC City; The Dukes Retreat, Khandala; Courtyard by Marriott Aravali Resort, NCR; and The Westin Resort & Spa, Himalayas (acquired in FY25). Commercial assets include The Orb Commercial Tower, CIGNUS Powai Tower 1 and CIGNUS Whitefield. Projects under development include Hyatt Regency Airoli, ‘Taj’ at Delhi International Airport, a planned upper upscale resort at Varca (Goa), and CIGNUS Powai Tower 2, among others .

Chalet Hotels Limited’s Business Segments

– Hospitality (Hotels): The principal business, driven by room, food & beverage and ancillary revenues.
– Rental & Annuity: Income from leasing commercial properties
– Real Estate: Sales of 90 residential units were recorded in the Bengaluru project in FY25 (294 cumulative), with revenue to be recognized upon handover expected in FY26 .

Revenue by Geography (FY2024/25, hospitality)

– MMR: 55%
– Bengaluru: 21%
– Hyderabad: 13%
– Pune/Khandala: 5%
– NCR: 5%
– Uttarakhand: 1%

Revenue by Industry Vertical (FY2024‑25)

– Hospitality contributed 87.89% of total revenue and Rental & Annuity 12.11% for the year; real estate revenue will be recognized on handover in FY26

Chalet Hotels Limited’s Key Management

– Dr. Sanjay Sethi, Managing Director & Chief Executive Officer
– Shwetank Singh, Executive Director
– Nitin Khanna, Chief Financial Officer

Latest Updates on Chalet Hotels Limited

– Portfolio expansion: The Westin Resort & Spa, Himalayas (141 keys) was acquired in February 2025 for an enterprise value of ₹5.3 billion, strengthening Chalet’s presence in the leisure, spiritual and wellness segment. In August 2024, the company acquired an 11‑acre beachfront parcel at Varca, South Goa, for ₹1.4 billion for an upper upscale resort of around 190 keys. Chalet also signed a definitive term sheet for over 15 acres at Bambolim, North Goa, for a ~170‑room luxury resort  .
– Capacity additions: 121 new rooms were operationalised at Bengaluru Marriott Hotel Whitefield, taking inventory to 512 keys. The development pipeline includes ~125–130 additional rooms at the same property, a ~280‑key Hyatt Regency (Airoli), a ~385–390‑key ‘Taj’ at Delhi Airport, and ~65–70 more rooms at The Dukes Retreat, among others  .
– Commercial and residential: Construction of CIGNUS Powai Tower 2 has commenced (target completion FY2027). The first nine towers of the Koramangala residential project are ready for handover; revenue recognition is expected in FY26.