Chalet Hotels Limited (CHL) has secured board approval to acquire Mahananda Spa and Resorts Private Limited, the owning entity of The Westin Resort & Spa, Himalayas, in a strategic deal valued at ₹530 crore. This acquisition bolsters CHL’s portfolio in India’s luxury, leisure, and wellness market, creating significant growth opportunities.
The Westin Resort, located in the spiritual hub of Rishikesh, boasts 141 rooms, over 10,000 sq. ft. of event space, and high-end wellness amenities such as the Heavenly® Spa and WestinWorkout® Fitness Studio. As of December 2024, it recorded an average daily rate (ADR) of over ₹26,000 with a 45% occupancy rate, showing solid operational traction since its launch in January 2023.
Speaking on the acquisition, Dr. Sanjay Sethi, MD & CEO, Chalet Hotels Limited, said: “This proposed acquisition will be a key milestone in Chalet Hotels’ strategy to expand footprint in India’s high-growth luxury and leisure segment. The Westin Resort & Spa, Himalayas, is a premier wellness destination that perfectly aligns with our vision of offering world-class hospitality experiences. With its breathtaking location and exceptional amenities, this property will strengthen our leisure portfolio and allows us to cater to the evolving preferences of modern travellers. We look forward to elevating the guest experience and further driving sustainable growth with this new addition.”
This strategic move, combined with CHL’s portfolio of 10 operational hotels, further solidifies its commitment to sustainable, long-term growth in India’s evolving hospitality sector.
