The acquisition, which will be conducted through a complete equity purchase in multiple phases, is anticipated to conclude by May 16 or a date agreed upon by both parties. The transaction will involve cash payment and is not classified as a related party transaction, as stated by the company in a regulatory filing.
Seasons Hotels operates a 144-room property spanning approximately 8.2 acres in Udaipur, Rajasthan. The hotel, which has been functioning since October 2008, features restaurants, a bar, and banquet facilities, reporting revenues of ₹74.3 million in FY25, ₹103.5 million in FY24, and ₹97.2 million in FY23.
Chalet Hotels indicated that this acquisition supports its strategy to enhance its hospitality portfolio, especially in leisure-oriented destinations throughout India. Post-acquisition, the company aims to elevate the resort into an upper upscale or lifestyle destination. The property is likely to remain closed during the upgrade process, while the company will also explore the potential for expansion, which may include increasing the number of rooms.
The company remarked that this initiative signifies its entry into the Udaipur market and forms part of its comprehensive strategy for portfolio diversification within the hospitality industry.
First Published: Apr 24, 2026 1:14 PM IST
