Chalet Hotels to Acquire Udaipur Resort for ₹171 Crore
Chalet Hotels to acquire 144-room Udaipur resort for Rs 171 crore
The Economic TimesImage: The Economic Times
Chalet Hotels Limited will acquire Seasons Hotels Private Limited, owner of the Inder Residency Resort & Spa in Udaipur, Rajasthan, for ₹171 crore (approximately $20.5 million USD). The acquisition aims to expand Chalet's portfolio into leisure properties, with plans for upgrades and potential expansion by May 2026.
- 01Chalet Hotels is acquiring the Inder Residency Resort & Spa in Udaipur.
- 02The total acquisition cost is ₹171 crore (approximately $20.5 million USD).
- 03The acquisition will be completed by May 15, 2026.
- 04Chalet plans to upgrade the resort to an upscale lifestyle destination.
- 05This move aligns with Chalet's strategy to diversify into leisure properties.
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Chalet Hotels Limited, a prominent player in the hospitality sector, is set to acquire Seasons Hotels Private Limited, the owner of the 144-room Inder Residency Resort & Spa in Udaipur, Rajasthan, for a total consideration of ₹171 crore (approximately $20.5 million USD). The acquisition, approved by the company's Board of Directors on April 24, 2026, will be executed through the purchase of 100% of equity shares in tranches, with completion expected by May 15, 2026, or a mutually agreed date. This acquisition marks Chalet Hotels' entry into the Udaipur market, aligning with its expansion strategy to diversify its portfolio into leisure properties across various geographies. The property will undergo significant upgrades to transform it into an upper upscale lifestyle destination, remaining non-operative during the refurbishment period. Shwetank Singh, Managing Director & CEO of Chalet Hotels, expressed enthusiasm about entering Rajasthan, emphasizing the potential for value creation through refurbishment and expansion, aiming to establish a high-quality, experience-led destination that appeals to guests and delivers long-term value.
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The acquisition is expected to enhance the hospitality landscape in Udaipur, creating jobs and boosting local tourism as the resort undergoes refurbishment and upgrades.
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