Chalet Hotels Limited has acquired Seasons Hotels Private Limited — the owner of Inder Residency Resort and Spa — for a total consideration of ₹171 crore. With this move, the K Raheja Corp-backed hospitality company has officially entered Udaipur, one of India’s most sought-after leisure and destination wedding markets. The board approved the transaction on April 24, 2026, and the company aims to complete it by May 15, 2026.
The acquired property includes a 144-room hotel spread across 8.2 acres, featuring nearly 3 acres of landscaped lawn area, extensive banqueting facilities, two restaurants, and a bar. Consequently, the property’s scale and infrastructure position it strongly to cater to high-demand segments such as weddings, MICE (Meetings, Incentives, Conferences, and Exhibitions), and leisure travel, which consistently drive tourism growth in Udaipur.
Seasons Hotels Private Limited, incorporated on December 27, 2001, commenced commercial operations of the hotel in October 2008. Over the past three financial years, the company reported audited turnover of ₹74.3 million in FY25, ₹103.5 million in FY24, and ₹97.2 million in FY23. Therefore, these figures indicate that the asset has operated below its full potential, thereby offering significant upside through strategic repositioning.
Importantly, Chalet Hotels has structured this acquisition as a buy-renovate-reposition strategy rather than a simple operational takeover. The company has clearly stated that it will upgrade the property into an upper-upscale or premium lifestyle destination. During the refurbishment phase, the hotel will remain non-operational. In addition, Chalet Hotels is actively evaluating expansion opportunities, including increasing room inventory beyond the current 144 keys, given the substantial 8.2-acre land parcel.
This repositioning aligns closely with Chalet Hotels’ broader portfolio strategy. Currently, the company operates 11 hotels and resorts with 3,389 keys under globally recognised brands such as JW Marriott, The Westin, and Novotel. Therefore, upgrading the Udaipur asset into a premium lifestyle offering will ensure alignment with the company’s high-end hospitality portfolio rather than adding a mid-market property.
Moreover, Chalet Hotels has introduced its in-house premium lifestyle brand, ATHIVA, which focuses on experience-led hospitality. As a result, the company may position the Udaipur property under this brand as part of its repositioning strategy.
Shwetank Singh, Managing Director and CEO of Chalet Hotels Limited, said, “We are delighted to announce our entry into Rajasthan with the acquisition of this resort in Udaipur, a market we have been keen to enter. This investment reflects our continued focus on expanding in high-growth leisure destinations with strong long-term potential. The property is well-located and offers significant headroom for value creation through refurbishment, repositioning, and expansion. As we enhance and reposition the resort, our focus will be on creating a high-quality, experience-led destination that delivers both strong guest appeal and long-term value.”
The transaction involves the acquisition of 100% equity shares of Seasons Hotels Private Limited. Chalet Hotels will execute the deal in tranches, with completion targeted by May 15, 2026, or another mutually agreed date. The ₹171 crore consideration will be paid entirely in cash, without any share swap component. Furthermore, the transaction does not qualify as a related party deal, and neither the promoter nor the promoter group holds any interest in the acquired entity. Notably, the company does not require regulatory approvals to complete the acquisition.
Strategically, this acquisition marks a significant shift in Chalet Hotels’ growth trajectory. The company has traditionally focused on business hotels in metropolitan cities; however, it is now diversifying into leisure destinations across India. Udaipur, which consistently ranks among India’s top domestic tourism and destination wedding locations, fits perfectly within Chalet’s high-growth leisure market strategy.
At present, Chalet Hotels has approximately 1,510 rooms under development in addition to its existing 3,389 operational keys. Simultaneously, it is expanding its commercial real estate portfolio from 2.4 million square feet to 3.3 million square feet. Therefore, the Udaipur acquisition strengthens its presence in the leisure segment while complementing its ongoing expansion in business and commercial real estate.
As demand for destination weddings, experiential travel, and luxury stays continues to rise, this move is likely to enhance Chalet Hotels’ competitive positioning in India’s evolving hospitality landscape.
