Chalet Hotels Limited has informed the Exchange regarding 'Pursuant to the provisions of Regulation 30(9) of the Listing Regulations, this is to inform you that Mahananda Spa and Resorts Private Limited, a material Wholly Owned (unlisted) Subsidiary of the Company has acquired land admeasuring 18,848 square meters at Narendra Nagar in Uttarakhand, for a cash consideration of Rs.600 Mn.'.
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Chalet Hotels' wholly owned subsidiary, Mahananda Spa and Resorts Private Limited, has acquired approximately 18,848 square meters of land at Narendra Nagar in Uttarakhand for a cash consideration of Rs. 600 Mn (Rs. 60 crore). The land is located near the company's existing Westin Resort & Spa, Himalayas, and is intended as a strategic investment to expand in the high-end leisure market. The subsidiary is described as a 'material' unlisted wholly owned entity. The acquisition was disclosed to the exchanges under Regulation 30(9) of the SEBI Listing Regulations on August 12, 2025.
This is a measured expansion move that leverages Chalet Hotels' existing Westin presence in the Himalayas to tap the premium leisure segment. While the Rs. 60 crore outflow is meaningful, the strategic adjacency to an operating property could support faster project execution and brand synergy, generally viewed as a positive long-term signal by investors.