The acquisition, which will be executed through a 100% equity purchase in tranches, is expected to be completed by May 16, or a mutually agreed date. The transaction will be carried out via cash consideration and does not fall under related party transactions, the company said in a regulatory filing.
Seasons Hotels owns a 144-room property spread across about 8.2 acres in Udaipur, Rajasthan. The hotel, operational since October 2008, includes restaurants, a bar, and banquet facilities, with turnover of ₹74.3 million in FY25, ₹103.5 million in FY24, and ₹97.2 million in FY23.
Chalet Hotels said the acquisition aligns with its strategy to expand its hospitality portfolio, particularly in leisure destinations across India. Following the acquisition, the company plans to upgrade the resort into an upper upscale or lifestyle destination. The property is expected to remain non-operational during the upgrade phase, while the company may also evaluate scope for expansion, including adding more rooms.
The company added that the move marks its entry into the Udaipur market and is part of its broader portfolio diversification strategy within the hospitality sector.
First Published: Apr 24, 2026 1:14 PM IST
