Chalet Hotels Signs MOUs for 381 Rooms in Pune & Hyderabad

Chalet Hotels Ltd has entered into two binding Memorandums of Understanding (MOUs) with SPVs of Mindspace Business Parks REIT to lease premises for hotel development. The agreement covers 231 rooms in Pune (Grey Shell) and 150 rooms in Hyderabad (Warm Shell), both to be branded as Upper Upscale ATHIVA®. The Pune expansion is targeted for FY2030-31, while Hyderabad is slated for FY2028-29. The estimated investment for fit-out is ₹10.8 Million per key in Pune and ₹13.5 Million per key in Hyderabad, to be financed through internal accruals and debt. This move aligns with the company's expansion strategy.