Chalet Hotels is in advanced discussions to acquire the luxury wellness retreat Six Senses Vana in Dehradun for around ₹600 crore, according to people familiar with the matter. The property is owned by Veer Singh, son of Max Group founder Analjit Singh, and operates under the Six Senses luxury brand.
Analjit Singh had gifted Vana to his son as part of a succession and inheritance plan, according to people familiar with the matter. Meanwhile, Six Senses operates under the portfolio of UK-based IHG Hotels & Resorts.
Chalet Hotels, part of the K Raheja Corp group, has been increasing its focus on the luxury hospitality segment. The company is also expanding its presence through new developments and acquisitions across key markets.
In February, Chief Executive Shwetank Singh said the company was launching its first Ritz-Carlton property in Hyderabad. The project will feature a 330-room luxury hotel along with commercial or retail space.
The company has also pursued acquisitions in the luxury resort segment. Last year, Chalet Hotels said it was working towards a definitive agreement with Mankind Pharma to acquire a 100% stake in Mahananda Spa and Resorts, which owns The Westin Resort and Spa, Himalayas in Rishikesh. The transaction was valued at an enterprise value of ₹530 crore.
In December, Chalet Hotels also announced plans to acquire a company that owns a 150-room resort property in Udaipur for ₹171 crore. Additionally, the company is developing a hotel at Delhi airport that Indian Hotels Company will manage under the Taj brand.
Chalet Hotels has continued to strengthen its luxury and premium hospitality portfolio as demand for high-end accommodation grows across major leisure and business destinations.
In February, CEO Shwetank Singh said Chalet Hotels had a “very deep belief” in the premiumisation of its offerings, be it residential or commercial projects. ” Our data points tell us that these are the segments where most of the growth will come from. All our future announcements will be driven by this belief,” he said.
If completed, the proposed Six Senses Vana acquisition would further expand Chalet Hotels’ presence in the luxury wellness and resort segment while adding a prominent Dehradun property to its portfolio.
