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HomeNewsChalet Hotels bolsters portfolio with acquisition of Courtyard by Marriott Aravali Resort,...

Chalet Hotels bolsters portfolio with acquisition of Courtyard by Marriott Aravali Resort, NCR

Chalet Hotels Limited has announced the execution of definitive agreements for the acquisition of the ‘Courtyard by Marriott Aravali Resort, NCR’. The resort boasts 158 rooms and occupies 14 acres of land. CHL has executed the definitive agreement for admission into the partnership with ‘Ayushi and Poonam Estates LLP’, the owner of CYMA. The Enterprise Value for this transaction amounts to INR 315 crore.

The company stated that since its establishment in June 2022, the resort has become the top choice for leisure travelers, MICE events, and destination weddings. Situated within a 1.5-hour radius from New Delhi, Gurgaon, and Noida, it offers convenient access to the Indira Gandhi International Airport in New Delhi.

The company additionally revealed that CYMA boasts an all-day dining restaurant, a bar & lounge, a pool bar, and a pan-Asian restaurant. Alongside these amenities, CYMA provides a gym, spa, pool, and a children’s play area, as well as activities such as ziplining, quad biking, automated paintball, artificial climbing, horse riding, and camel cart rides.

Continue Exploring: Chalet Hotels expands its footprint with acquisition of 80-Room Resort in picturesque Khandala

Sanjay Sethi, MD & CEO at Chalet Hotels Limited, stated, “Courtyard by Marriott Aravali Resort aligns seamlessly with our stated growth strategy to expand into the leisure space at a drivable distance from the National Capital Region. This strategic acquisition accentuates the company’s adaptability and growth prospects to capitalise on emerging opportunities and solidify its position as an industry leader.”

Nevertheless, the shares experienced a 0.78 percent decline, reaching INR 804.10 at 10:54 am on the BSE.

Continue Exploring: Indian hospitality industry set for a record-breaking 2024: Surge in new hotel rooms expected

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