Chalet Hotels Acquires The Westin Resort & Spa in Rishikesh for Expanding Leisure Portfolio

Chalet Hotels Limited has announced their recent acquisition of The Westin Resort & Spa, Himalayas at Rishikesh. The luxury resort, which opened in January 2023, boasts 141 rooms, a Heavenly Spa by Westin, and a WestinWorkout Fitness Studio. It also features over 10,000 sq.ft. of event space and world-class dining options. This strategic acquisition strengthens Chalet Hotels Limited's position in the high-growth leisure, spiritual, and wellness tourism market and presents new opportunities for premium experiences. The company is in the process of finalizing a definitive agreement with Mankind Pharma Limited for the 100% stake of Mahananda Spa and Resorts Private Limited, the owning company of the property. The resort, located in the foothills of the Himalayas near Rishikesh, is just 45 minutes from the Jolly Grant Airport and offers various recreation activities.

Chalet Hotels Ltd operates premium hotel properties in India, focusing on providing upscale accommodations and services for business and leisure travelers.

Top Hotels & Resorts Stocks

Stock Name	MCap(Cr)	P/E Ratio	3Y Stock Ret.
Stock Name	MCap(Cr)	P/E Ratio	3Y Stock Ret.
Indian Hotels Company Ltd NSE: INDHOTEL	1,02,309	60.52	47.28%
Itc Hotels Ltd NSE: ITCHOTELS	38,075	-	-
Eih Ltd NSE: EIHOTEL	21,762	30.94	37.59%
Chalet Hotels Ltd NSE: CHALET	17,441	172.48	41.18%
Ventive Hospitality Ltd NSE: VENTIVE	17,235	104.41	-