Chalet Hotels Limited has announced the acquisition of Seasons Hotels Private Limited, the owner of Inder Residency Resort & Spa in Udaipur, Rajasthan, for a total consideration of ₹1,710 million. The acquisition was approved by the Board of Directors on 24 April 2026.
The acquisition aligns with Chalet Hotels‘ strategic expansion into high-growth leisure markets. Inder Residency Resort & Spa, located on an 8.2-acre property, features 144 rooms and extensive banqueting facilities, making it suitable for weddings, MICE, and leisure travel. The company plans to upgrade the resort into an upper upscale or premium lifestyle destination.
Chalet Hotels aims to complete the acquisition by 15 May 2026, acquiring 100% of the equity shares in tranches. The acquisition will be made through cash consideration.
Seasons Hotels Private Limited, incorporated on 27 December 2001, has been operating the Inder Residency since October 2008. The hotel reported a turnover of ₹74.3 million for the fiscal year 2024-25, ₹103.5 million for 2023-24, and ₹97.2 million for 2022-23.
The acquisition does not fall within related party transactions, and neither the promoter group nor group companies have any interest in the acquired entity.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).