Chalet Hotels (K Raheja Corp Group) Completes 100% Acquisition of Seasons Hotels Private Limited, Making Udaipur Resort a Wholly-Owned Subsidiary

Chalet Hotels Completes Seasons Hotels Acquisition

Chalet Hotels Limited completed the acquisition of 100% equity share capital of Seasons Hotels Private Limited on May 5, 2026, making it a wholly-owned subsidiary. The acquisition valued Seasons Hotels at approximately ₹171 crore.

The acquired asset is Inder Residency Resort & Spa, a 144-room property spread across 8.2 acres, including around 3 acres of lawn area. The resort features extensive banqueting facilities, two restaurants, and a bar. The company was incorporated on 27 December 2001, and the hotel commenced commercial operations in October 2008. The property sits in the Hiran Magri locality of Udaipur, with proximity to Lake Pichola and other cultural landmarks.

Strategic Entry into Rajasthan

Shwetank Singh, Managing Director & CEO, Chalet Hotels, said: "We are delighted to announce our entry into Rajasthan with the acquisition of this resort in Udaipur, a market we have been keen to enter. This investment reflects our continued focus on expanding in high-growth leisure destinations with strong long-term potential."

Chalet Hotels stated that the acquisition aligns with its expansion strategy to diversify its portfolio by adding leisure properties across different geographies. Prior to this acquisition, the company had no direct presence in Rajasthan, marking a significant geographic diversification move.

Chalet Hotels' Portfolio Context

Chalet Hotels, part of the K Raheja Corp Group, has been actively growing through acquisitions, with past moves including acquiring properties like The Dukes Retreat in Lonavala and The Westin Resort & Spa, Himalayas, showing a focus on its leisure and luxury segment.

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. The Company's portfolio comprises 11 fully operational hotels representing 3,389 keys, across mainstream and luxury segments, and commercial spaces, representing ~2.4 mn sq.ft.

Chalet is ably led by Managing Director & CEO, Dr. Sanjay Sethi who has over three decades of expertise in the hospitality industry.

Transaction Details

The transaction was disclosed to stock exchanges under Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Earlier intimations regarding the acquisition had been filed on December 11, 2025, April 24, 2026, and April 25, 2026.

Khaitan & Co advised Chalet Hotels on this acquisition. The Firm was responsible for the entire deal structuring, due diligence of the company and the underlying immovable assets, assessment of material risks and mitigating factors, as well as drafting negotiating and finalising the transaction documents.

K Raheja Corp's Hospitality Expansion

K Raheja Corp is India's leading Real Estate conglomerate, and a success story spanning six decades. The group's hospitality arm continues to expand its footprint beyond traditional metros. Chalet Hotels Limited (CHL), part of K Raheja Corp, is an owner, developer, asset manager and operator of high-end hotels and resorts in India, comprising of 11 operating hotels & resorts with 3,389 keys across globally recognized hospitality brands including JW Marriott, The Westin and Novotel.

Chalet also has a robust development pipeline that includes ~385-390 keys at "Taj' Hotel at Delhi Airport opposite the T3 Terminal at Delhi International Airport. The Company's developmental pipeline also includes a hotel of ~280 keys viz. Hyatt Regency at Airoli, Navi Mumbai a resort of ~190 keys at Varca, Goa, a resort of ~170 keys at Bambolim, Goa, a new hotel of ~150 keys at Trivandrum in Kerala and ~0.9 mn sqft commercial building in Powai, Mumbai.