Chalet Hotels Limited expands its leisure portfolio

The resort is spread over 14 acres of land, elevating the property's potential for enhanced offerings

Chalet Hotels Limited (CHL) has announced the execution of definitive agreements for the acquisition of ‘Courtyard By Marriott Aravali Resort, NCR (CYMA), a 158-room resort. The resort is spread over 14 acres of land, elevating the property's potential for enhanced offerings.

CHL has on February 29, 2024, executed the definitive agreement for admission into the partnership viz. ‘Ayushi and Poonam estates LLP’, owner of CYMA. The Enterprise Value for the transaction is at INR 3,150 million (to be adjusted for cash on books). CHL will be concluding the formalities shortly. Hotelivate was the transaction advisor for the sellers.

Since its commencement in June 2022, the resort has been the preferred choice for leisure travellers, MICE and destination weddings. Strategically located within 1.5 hrs. from New Delhi, Gurgaon and Noida, the resort boasts of its easy accessibility to Indira Gandhi International Airport New Delhi. The property reported an ADR of Rs ~13,500 for the YTD December FY24 with an occupancy of 44%.

CYMA is equipped with an all-day dining restaurant, a bar & lounge, a pool bar, and a pan-Asian restaurant, providing guests with a delightful culinary experience. It features an array of recreational facilities such as a gym, spa, pool and a dedicated kids’ play area. Adventure enthusiasts will enjoy the on-premises adventure park offerings like zipline, quad bike, automated paintball arena, artificial climbing, horse riding, camel cart and much more.

Following the announcement, Sanjay Sethi, MD & CEO at Chalet Hotels Limited said, “Courtyard by Marriott Aravali Resort aligns seamlessly with our stated growth strategy to expand into the leisure space at a drivable distance from the National Capital Region. This strategic acquisition accentuates the company’s adaptability and growth prospects to capitalise on emerging opportunities and solidify its position as an industry leader."



Advertisement

Around The World

Advertisement