Chalet Hotels (K Raheja Corp Group) Adds ATHIVA-Branded Upper-Upscale Hotels in Hyderabad Financial District (150 Keys) and Pune (231 Keys)
Chalet Hotels Expands ATHIVA Portfolio: 381 Keys Across Hyderabad and Pune
Chalet Hotels Limited, part of K Raheja Corp, announced in August 2026 the addition of two new hotels to its development pipeline, adding a total of 381 keys, including 150 in Hyderabad and 231 in Pune.
Hyderabad Financial District: Entry into High-Growth Market
The Hyderabad project marks Chalet's fourth hotel in the city and its first entry into the Financial District, a market driven by strong infrastructure connectivity and a high concentration of Global Capability Centres (GCCs). The Hyderabad hotel will convert an existing office building under a warm shell model and is scheduled to open in FY2029.
The Hyderabad property will feature three food and beverage outlets and approximately 4,300 sq ft of banquet space, positioning it as a hub for corporate MICE business.
Pune: Consolidating Market Presence
The Pune property will become Chalet's second hotel in the city, targeting demand from GCCs, MICE business, global headquarters visits and extended corporate stays. For the Pune project, Mindspace REIT will develop the building structure on a grey-shell basis, while Chalet will undertake the remaining scope, including interior fit-outs. The structure allows Chalet to defer a significant portion of its capital expenditure to the latter part of the development cycle while reducing site-acquisition risks and supporting faster time-to-market.
ATHIVA Brand Expansion
The hotels will operate under the company's Athiva brand. Athiva is a premium lifestyle hotel brand launched by Chalet Hotels. This takes the hotelier's total inventory, including pipeline (~2,036 keys), close to 5,500 keys – highlighting their growth trajectory.
Strategic Partnership with Mindspace Business Parks REIT
The company will develop both hotels under a long-term lease arrangement with special purpose vehicles (SPVs) of Mindspace Business Parks REIT. Both hotels will be positioned in the upper-upscale segment and are expected to deepen Chalet's presence in two of India's most significant commercial markets.
About K Raheja Corp and Chalet Hotels
Part of the K Raheja Corp group, Chalet Hotels Limited is an operator, owner, developer and asset manager of high-end hotels and a hotel led mixed-use developer in key metro cities in India such as Mumbai Metropolitan Region, National Capital Region, Hyderabad, Bengaluru, Pune and Rishikesh. K Raheja Corp was established in Mumbai in 1956.
K Raheja Corp operates its commercial business under the brands Mindspace and Commerzone with projects in Mumbai, Hyderabad, Pune and Chennai. Under the Mindspace banner, K Raheja Corp also operates Mindspace Office Parks, which is a real estate investment trust (REIT).