Chalet Hotels Expands Luxury Portfolio with Westin Rishikesh Acquisition

Chalet Hotels Limited (CHL) has announced its acquisition of The Westin Resort & Spa, Himalayas in Rishikesh for ₹530 crore, strengthening its position in India's luxury hospitality sector. The 141-room resort, opened in January 2023, boasts an impressive average daily rate of over ₹26,000 and 45% occupancy. This strategic move aligns with CHL's expansion into the high-growth leisure and wellness tourism market. The acquisition follows CHL's strong Q3 FY25 performance, with a 22% year-on-year revenue increase to ₹4.6 billion. CEO Sanjay Sethi emphasized the resort's alignment with CHL's vision of offering world-class hospitality experiences.

 

Sources: BW Hotelier, The Economic Times, Business Standard