Chalet Hotels Limited, in its Board meeting held on December 11, 2025, approved a series of significant decisions, including a proposed acquisition in Rajasthan and key appointments to its top management. The meeting commenced at 2:00 p.m. and concluded at 2:25 p.m., according to the company’s filing.
The Board has cleared the proposal to acquire a company that owns a 150-room resort property in Udaipur, Rajasthan, for a consideration of Rs 171 crore, subject to adjustments for net assets and liabilities. The transaction will proceed only after successful due diligence, and further details will be shared once definitive agreements are finalised and necessary approvals are obtained.
The company also announced major leadership changes effective February 1, 2026.
Mr. Shwetank Singh, currently serving as Executive Director, has been appointed as the Managing Director and CEO for a three-year term ending January 31, 2029. He brings over 26 years of experience, including previous leadership roles at Golden Sands LLC, Dubai, and joined Chalet Hotels in August 2023 as the Chief Growth & Strategy Officer.
Additionally, Dr. Sanjay Sethi, who has been the Managing Director & CEO of Chalet Hotels since 2018, will transition to the role of Non-Independent Non-Executive Director from February 1, 2026. With more than 37 years in the hospitality sector, Dr. Sethi has held leadership positions at Taj Group of Hotels, Berggruen Hotels, and ITC Hotels, along with active involvement in industry forums and tourism committees.
The company clarified that both appointees are not related to any Directors, KMPs, or Promoters and are not debarred from holding office by any authority.
