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Chalet Hotels Limited has approved the acquisition of Seasons Hotels Private Limited, the owner of the 144-room Inder Residency Resort & Spa in Udaipur, for INR 171 crore. The deal will be completed through phased purchase of 100 per cent equity shares and is expected to close by May 15, 2026 or a mutually agreed date. This move marks the company’s entry into the Udaipur market and aligns with its strategy to expand its leisure hospitality portfolio across different regions. The property is planned for upgradation and possible expansion in the future.
Chalet Hotels Limited has approved the acquisition of Seasons Hotels Private Limited, which owns the 144-room Inder Residency Resort & Spa in Udaipur, for a total consideration of INR 171 crore. The decision was cleared by the company’s board during a meeting held in the past week. Advertisement
The acquisition will be carried out through the purchase of 100 per cent equity shares in multiple tranches. The transaction is expected to be completed by May 15, 2026, or on a date mutually agreed between the parties. With this transaction, the company is entering the Udaipur hospitality market for the first time.
The company is in the process of finalising definitive agreements with the concerned parties. As per a regulatory filing, the acquisition aligns with Chalet Hotels’ broader strategy of expanding its presence in leisure hospitality assets across different geographies and strengthening portfolio diversification.
The resort is planned to be upgraded into an upper upscale or premium lifestyle destination and will remain non-operational during the renovation phase. The company is also evaluating the possibility of expanding the property and adding more rooms to enhance capacity.
Shwetank Singh, Managing Director and CEO of Chalet Hotels Limited, stated that the company is entering Rajasthan with this acquisition and has been looking to expand into the Udaipur market. He further noted that the property offers scope for value creation through refurbishment, repositioning and potential expansion, with a focus on building a high-quality hospitality destination.
Source PTI
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