Key Points
Chalet Hotels Limited (CHL), which owns, develops and operates hotels and resorts in India, has invested in a leisure property, The Dukes Retreat, which is an 80-room resort in Khandala, for an enterprise value of 133 crore..
The company said it would acquire 100% shares of Sonmil Industries for 74.64 crore, and 82.28% of shares in The Dukes Retreat for 81.75 crore..
Chalet Hotels is backed by real estate development firm K Raheja Corp and its hotel portfolio includes the JW Marriott Mumbai Sahar, Four Points by Sheraton Navi Mumbai, The Westin Hyderabad Mindspace and Bengaluru Marriott Hotel Whitefield..
Chalet said in a statement that it will finalise its plans of expansion and upgrading the property to reposition it as an upper-upscale green, lifestyle resort in the coming days and that with this acquisition, it will enhance diversification in its portfolio by expanding its owned asset portfolio in the leisure segment..
Sanjay Sethi, MD & CEO of Chalet Hotels said, The Dukes Retreat has a strong emotional connect with a large number of families from Mumbai and Pune..
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