Chalet Hotels Limited is set to acquire Seasons Hotels Private Limited -- the owning entity of the 144-room Inder Residency Resort & Spa Udaipur -- for a total consideration of Rs 171 crore, with its Board approving the proposal on Friday. This marks Chalet Hotels' entry into Rajasthan, shifting from a business-hotel-heavy portfolio to leisure destinations, especially Udaipur which is a major tourism and wedding destination. Chalet Hotels is the listed hospitality company promoted by K Raheja Corp, and the transaction is the group's first disclosed investment in the city.
Spread over roughly 8.2 acres, the Udaipur resort features 144 rooms set amid landscaped lawns and event spaces that already serve weddings, social celebrations, MICE and leisure guests. The company said the acquisition is in line with its expansion strategy to diversify the portfolio to include leisure properties spanning different geographies. Announcing the deal, Chalet Hotels' Managing Director and CEO said the group was entering Rajasthan with the acquisition of this resort in Udaipur, a market we have been keen to enter, and that the focus going forward would be on refurbishment and repositioning rather than a mid-market hold.
K Raheja Corp is a property developer in India with interests in commercial and residential projects, malls and hospitality across multiple cities in the country, tracing back to its founding in 1956 by Chandru Lalchand Raheja and headquartered in Mumbai. It owns the brands Mindspace, Commerzone, Crossword Bookstores and Shoppers Stop, and is the second largest commercial developer in India. On the hospitality side, Chalet Hotels currently owns, develops and manages 11 hotels with 3,389 keys, collaborating with JW Marriott, The Westin, Novotel — a portfolio historically weighted toward airport-city business hotels, into which the Udaipur resort is a distinct leisure-market addition.
The group's residential arm operates under a separate, longer-standing track record. K Raheja Corp Homes has honed the expertise and proficiency to deliver self-contained residential spaces over the last 4 decades, with a portfolio spread across 5 cities of India, including iconic projects Raheja Vivarea and Raheja Artesia in Mumbai and Raheja Viva and Raheja Reserve in Pune, and Raheja Vistas in Hyderabad and Pune. With around 10 mn sq ft of high-quality residential area developed across 30+ projects, homes have been created for 8500+ families thus far. Its footprint runs through Mumbai, Pune, Hyderabad, Bengaluru and Goa, with the Goa entry — Raheja Viva, present in West Pune and Goa, boasting state-of-the-art villas, plots, townhouses, and row houses surrounded by lush green landscapes — offering the closest existing template for how the group approaches a leisure-oriented, tourism-driven market rather than a pure metro job-market city.
The Udaipur resort acquisition did not happen in isolation from the wider group's leisure thesis. With this move, the K Raheja Corp-backed hospitality company has officially entered Udaipur, one of India's most sought-after leisure and destination wedding markets. The property's scale and infrastructure position it strongly to cater to high-demand segments such as weddings, MICE, and leisure travel, which consistently drive tourism growth in Udaipur. Chalet has also floated an in-house lifestyle brand for this kind of asset: the company has introduced its in-house premium lifestyle brand, ATHIVA, which focuses on experience-led hospitality, and may position the Udaipur property under this brand as part of its repositioning strategy.
This mirrors a broader shift already visible in Udaipur's hospitality landscape. With hospitality giants like Hilton and Accor also eyeing smaller markets, Udaipur is seeing a surge in interest for luxury villas and integrated resort developments — a clear sign of tourism-driven growth reshaping real estate trends in India's emerging hotspots. A group with K Raheja Corp's scale entering on the hospitality side is typically an early signal that its residential and mixed-use arms are also studying a city's second-home and destination-living potential, as happened previously in Goa.
Udaipur's appeal to a group weighing leisure and second-home real estate rests on a few concrete shifts. Connectivity has improved steadily: Udaipur's strategic position in southern Rajasthan provides excellent connectivity to major cities, with Maharana Pratap Airport offering regular flights to Delhi, Mumbai, and international destinations, a rail network connected to Delhi, Mumbai, and Jaipur, and road infrastructure via NH-8 and other national highways. The Udaipur Ring Road project is redefining which areas qualify as well-connected, with locations that seemed peripheral five years ago now minutes from the city centre.
Pricing remains comparatively accessible against the metros where K Raheja Corp Homes already builds: the average rate of properties varies between roughly Rs 3,800 and Rs 8,000 per square foot, depending on locality. Demand drivers layer on top of this base — the demand for high-end villas and second homes is rising in Udaipur, appealing to NRIs who wish to have a house in their country and high-paying customers looking for exclusive retreats — alongside a hospitality sector already expanding with brands such as Marriott, which has debuted a brand-new 226-room property in Udaipur, Rajasthan, strengthening its footprint in India's thriving tourism hubs.
For buyers tracking K Raheja Corp specifically, the relevant fact today is the group's confirmed hospitality entry into Udaipur through Chalet Hotels, backed by a named asset, a disclosed deal value, and a stated repositioning plan. Its residential arm's established pattern — premium, amenity-led projects concentrated in Mumbai, Pune, Hyderabad, Bengaluru and Goa, delivered across roughly 10 million sq ft to date — gives a reasonable sense of the product standard and design language the group applies wherever it builds. As Udaipur's own connectivity, tourism, and second-home demand curves continue upward, a K Raheja Corp presence in the city, currently hospitality-led, sits squarely within the group's broader playbook of following leisure and destination markets with long-term capital.
