Chalet Hotels has signed a Share Purchase Agreement (SPA) for the purchase of Belaire Hotels (BHPL), owner of Novotel Pune Nagar Road Hotel and its affiliate entity Seapearl Hotels (SHPL) based on an aggregate enterprise value of around Rs 290 crore.
The Hotel currently caters to the business traveller demand and has the capacity to add another 84 to 88 rooms which are currently in bare-shell condition. The Hotel houses two restaurants, a bar and banqueting space and is operated by AAPC India Hotel Management (part of Accor Group) under a management agreement.
Chalet Hotels is a luxury serviced apartments and hotels provider in India offers serviced apartments, Bangalore, India.
