Chalet Hotels (CHL) has received the approval for the acquisition of Mahananda Spa and Resorts, a Wholly Owned Subsidiary of Mankind Pharma, and owning company of The Westin Resort and Spa, Himalayas (TWRS) in Rishikesh, a stunning 141-room luxury resort, nestled in the Himalayas. This strategic acquisition strengthens the company’s position in the high-growth leisure, spiritual and wellness tourism market, unlocking new opportunities for premium experiences and long-term value creation.
CHL is in the process of entering into a definitive agreement with Mankind Pharma, for 100% stake of Mahananda Spa and Resorts, the owning company of the property at an enterprise value of Rs 5.3 billion. CHL will be concluding the formalities shortly. The Westin Resort & Spa, Himalayas, known for its wellness-focused experiences, opened its doors in January of 2023. For its second year of operations the property reported an ADR of over Rs 26,000 as of YTD December 2024 with an occupancy of 45%. The Board of Directors of the Company at its meeting held on February 10, 2025 has, inter-alia, considered and approved the same.
Chalet Hotels (CHL), is an owner, developer and asset manager of high-end hotels in key metro cities in India.
| Company Name | CMP |
|---|---|
| The Indian Hotels Co | 728.00 |
| ITC Hotels | 172.45 |
| EIH | 338.75 |
| Chalet Hotels | 862.00 |
| Mahindra Holi.&Resor | 224.35 |
| View more.. | |
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