Chalet Hotels Limited, a leading player in India’s hospitality sector, has made a significant move to bolster its presence in the luxury and wellness tourism market by acquiring land worth ₹600 million in Uttarakhand for its wholly owned subsidiary, Mahananda Spa and Resorts Private Limited. This strategic acquisition supports the company’s vision to expand and enhance its premium leisure offerings, centered around The Westin Resort & Spa, Himalayas located in Rishikesh.
Key Highlights of the Acquisition and Land Purchase:
Mahananda Spa and Resorts Private Limited, the entity owning the upscale 141-room Westin Resort & Spa Himalayas, has purchased land in Uttarakhand valued at ₹600 million.
This acquisition is integral to Chalet Hotels’ broader expansion strategy to diversify its footprint in India’s high-growth leisure, spiritual, and wellness tourism segments.
The Westin Resort, which commenced operations in January 2023, reported promising performance metrics, including an average daily rate exceeding ₹26,000 and growing occupancy nearing 45% as of December 2024.
The land acquisition aims to support resort infrastructure development, augment wellness facilities, and potentially expand hospitality offerings to meet rising guest demand.
Strategic and Business Context:
The Westin Resort & Spa Himalayas is strategically situated in the foothills of the majestic Himalayas near Rishikesh, an internationally renowned spiritual and wellness hub. The resort features sophisticated event spaces, world-class dining, and wellness amenities such as the Heavenly® Spa and WestinWorkout® Fitness Studio, making it a sought-after destination catering to luxury and wellness travelers.
By securing this additional land parcel, Chalet Hotels is positioning itself to scale up operations, strengthen its competitive edge, and capitalize on the increasing domestic and international interest in India’s spiritual and wellness tourism. The investment also underlines the company’s commitment to developing sustainable and premium hospitality assets aligned with evolving traveler preferences.
Financial and Operational Insights:
Chalet Hotels’ acquisition of Mahananda Spa and Resorts was approved by its board in February 2025 at an enterprise value of approximately ₹5.3 billion. The transaction marked a key expansion in the company’s luxury leisure portfolio. The land purchase of ₹600 million complements this acquisition by enabling phased future developments and capacity enhancements.
The Westin Resort has already shown healthy revenue generation and EBITDA performance in its initial operational phase, with occupancy and average room rates trending upward. The additional land and planned infrastructure improvements are poised to further enhance revenue streams and guest experiences.
Outlook and Growth Prospects:
Chalet Hotels expects the land acquisition and subsequent development at Mahananda Spa to unlock new growth avenues within the growing wellness and luxury retreat market in India. These efforts align with the company’s long-term growth goals of diversifying its portfolio across geographies and delivering differentiated hospitality experiences.
The company’s strategic focus on upscale wellness resorts presents strong opportunities for sustained value creation as demand for premium lifestyle and leisure travel accelerates domestically and globally.
In summary, Chalet Hotels Limited’s ₹600 million land acquisition in Uttarakhand for Mahananda Spa represents a transformative step in expanding its leadership in India’s luxury hospitality and wellness segments. This move not only supports the optimized growth of The Westin Resort & Spa Himalayas but also reinforces the company’s vision of delivering exceptional guest experiences rooted in exclusivity and natural splendor.
Source: Chalet Hotels Limited official disclosures, business announcements dated August 2025.
