The acquisition will be executed through a 100% equity purchase in multiple tranches, with an expected completion date by May 16, or another mutually agreed upon date. The transaction will involve cash consideration and is not classified as a related party transaction, according to the company’s regulatory filing.
Seasons Hotels operates a 144-room property that spans approximately 8.2 acres in Udaipur, Rajasthan. The hotel has been in operation since October 2008 and features restaurants, a bar, and banquet facilities, generating revenues of ₹74.3 million in FY25, ₹103.5 million in FY24, and ₹97.2 million in FY23.
Chalet Hotels stated that this acquisition supports its strategy to expand its hospitality portfolio, especially in leisure destinations across India. Following the acquisition, the company intends to enhance the resort to an upper upscale or lifestyle destination. The property is expected to be non-operational during the upgrade process, and the company may also explore opportunities for further expansion, including adding additional rooms.
The company mentioned that this move signifies its entry into the Udaipur market and forms part of its broader strategy for portfolio diversification within the hospitality industry.
First Published: Apr 24, 2026 1:14 PM IST
