Chalet Hotels to Acquire Westin Resort & Spa in Strategic Move

Chalet Hotels Ltd is set to acquire Mahananda Spa and Resorts Pvt Ltd, which owns the Westin Resort and Spa in Rishikesh, valued at Rs 530 crore. This acquisition aims to bolster its presence in the premium leisure and wellness tourism market, offering enhanced hospitality experiences.

Chalet Hotels Ltd has announced its decision to acquire Mahananda Spa and Resorts Pvt Ltd, the owner of the Westin Resort and Spa, Himalayas, in Rishikesh. This strategic acquisition, valued at Rs 530 crore, aims to strengthen the company's position in the rapidly growing leisure and wellness tourism sector.

The board of directors has approved the acquisition, marking an essential step forward for Chalet Hotels in expanding its footprint in India's luxury hospitality market. The Westin Resort & Spa, with its 141-room facility, is noted for its premium wellness offerings, aligning with CHL's vision of delivering world-class experiences.

CHL is finalizing a definitive agreement with Mankind Pharma Ltd to acquire a full stake in Mahananda Spa and Resorts. This acquisition is expected to unlock new opportunities for value creation, and formalities are expected to be completed shortly.

(With inputs from agencies.)