India's Chalet Hotels plans domestic growth

Mumbai

Bengaluru-based Chalet Hotels is reportedly looking to double its room portfolio with total planned expenditure of Rs 3,000 crore over the next four to five years. 

The proposed investment is part of a bid to reduce risk by investing in luxury properties in other top-tier cities like Bengaluru, Goa, the National Capital Region and Pune, as well as increasing the company's presence in Mumbai. The proposed expansion plan will be financed through a mix of internal accruals, group resources and debt. 

Chalet Hotels, which has a current portfolio of around 2,800 guestrooms, is planning to add between 1,500-2,000 guestrooms through acquisitions and 1,000 rooms through greenfield developments including land cost. It owns total seven properties and co-owns one property in Western and Southern India. 

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Navi, a planned township of Mumbai, will be a focus market for the company, with two new hotels and 500 guestrooms in the works. Thanks to the new airport and "aggressive infrastructure development in Navi Mumbai," the company is "bullish" on this micro market, the Economic Times claims. 

The company will also consider opportunities for acquisitions, or brownfield expansion, based on the attractiveness of the micro market. 

Suggested Articles

It can be such a dilemma, can’t it, working out what to do with the sacks of cash one has piling up in the bank, or in the vault.

The survey polls interior designers, architects, landscape, lighting and other designers about a variety of hotel design topics.

2,500 senior leaders will come together on the 2nd to 4th of March 2020 at the 23rd International Hospitality Investment Forum (IHIF).