Chalet Hotels has received approval to execute Share Purchase agreements for acquisition 100% of the Equity Shares in Sonmil Industries and 82.28% of the equity shares in The Dukes Retreat (17.72% of the Equity Shares of The Dukes Retreat will continue to be held by Sonmil Industries which is also being acquired). The said acquisition will be completed by March 31, 2023. Cost of acquisition is Rs 81.76 crore (including cash and cash equivalents). The Board of Directors of the Company has at its meeting held on March 22, 2023, approved the same.
Chalet Hotels (CHL), is an owner, developer and asset manager of high-end hotels in key metro cities in India.
