Chalet Hotels, a part of the K Raheja Corp group, has concluded the acquisition of Courtyard by Marriott Aravali Resort for INR 315 crore. The 158-room property, spread across eight acres, was on the market for approximately a year, according to a notification filed with the exchange by the hotel company.
Previously owned by the family of RC Juneja, co-founder and chairman of Mankind Pharma, through Ayushi and Poonam Estates LLP, the resort commenced operations in July 2022, commanding average daily rates exceeding INR 15,000 per night.
Inaugurating the Mankind family’s entry into hospitality, the group also manages a 141-room hotel in Rishikesh, operated by Marriott-owned The Westin Resort & Spa Himalayas.
Sanjay Sethi, Managing Director, and Chief Executive, Chalet Hotels, shared in a recent interview their plan to expand offerings by about 800 rooms, supported by a INR 2,000 crore investment allocated as current capital work-in-progress. The company aims to grow its portfolio…
