Acquisitions12 Aug 2025, 05:54 pm
Chalet Hotels Ltd Subsidiary Acquires Land in Uttarakhand for Rs.600 Mn
AI Summary
Chalet Hotels Ltd announced that its wholly owned subsidiary, Mahananda Spa and Resorts Private Limited, has acquired land admeasuring ~18,848 square meters at Narendra Nagar in Uttarakhand. The land was purchased for a cash consideration of Rs.600 Mn and is in proximity to the existing hotel, The Westin Resort & Spa, Himalayas. This strategic investment is aimed at expanding the company's presence in a high-end and deep leisure market.
Key Highlights
- Chalet Hotels Ltd's subsidiary, Mahananda Spa and Resorts Private Limited, acquires land in Uttarakhand
- Land acquisition is for a cash consideration of Rs.600 Mn
- The acquired land is ~18,848 square meters and located near The Westin Resort & Spa, Himalayas
- This is a strategic investment for expansion in a high-end and deep leisure market
- The acquisition is in compliance with the Listing Regulations - Acquisition of land by Wholly Owned Subsidiary of the Company