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Chalet Hotels

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Chalet Hotels Limited
Company typePrivate
IndustryHospitality
Founded1986
HeadquartersMumbai,
India
Area served
India
Key people
    • Sanjay Sethi (CEO)[1]
    • Milind Wadekar (CFO)[2]
    • Shwetank Singh (CGSO)[3]
    • Rajneesh Malhotra (VP)[4]
    • Vishal Sharma (SVP)[5]
    • Rashna Kapadi (AVP)[6]
ServicesHotels and resorts
Websitewww.chalethotels.com

Chalet Hotels Limited is an Indian hotel chain company founded in 1986 and backed by K Raheja Corporation.[7] It owns, develops, and manages assets and a hotel-led mixed-use developer in metro cities in Mumbai, Hyderabad, Bengaluru, and Pune.[8] It currently manages upscale hotels like JW Marriott, Westin, Marriott, Marriott Executive Apartments, and Renaissance.[9]

History

Chalet was publicly listed on the National Stock Exchange and Bombay Stock Exchange on 7 February 2019, and its price rose by 3.93% on opening day.[10]

In June 2023, in total the company have 2,800 keys (owned and leased rooms).[11] It launched its new all-women-operated hotel in Hyderabad, the Westin in Hitec City, Hyderabad, in partnership with Marriott International.[12]

Partnership

In 2020, the company signed a Share Purchase Agreement (SPA) for the purchase of the Pune-based Novotel Hotel and another affiliate entity for an aggregate enterprise value of ₹290 crore.[13] It partnered with US-based Marriott Hotels the company partnered with US based Marriott Hotels for over 1,500 keys in the luxury and upper-upscale hotel segment in India.[14]

In 2023, Tata Power Renewable Energy Limited (TPREL) has strategically partnered with the company for a power delivery agreement (PDA) for a captive project for 6 MW AC. Under this arrangement, from the renewable sources plant will generate 13.75 million units of clean energy.[15]

Acquired

In March 2023, the company acquired the 80-room resort The Dukes Retreat in Khandala, Maharashtra, for an enterprise value of ₹133 crore.[16][17]

Financials

In FY 2017-18, Chalet reported a revenue of ₹929.5 crore, with revenues growing at a compounded annual rate of 15.81% between the financial years 2014 and 2018.[18]

In Dec 2021, the company reported net sales of ₹164.18 crore, a growth of 92.98% as compared to its last year in Dec 2020 with net sales of ₹85.08 crore.[19]

In FY2023, the company reported 2.2x growth in total income with ₹1,178 crore as compared to its last year, FY2022, with a total income of ₹533.1 crore.[20][21]

Corporate social responsibilities

  • In 2023, the company organised a tree plantation drive with their guests, hotel associates, and key influencers. During the event, a healthy mix of 100 trees that are fruit-bearing, flowering, and produce the most oxygen were planted in pots.[22] In September 2023, the hotels became the first hospitality company across the globe to join all three Climate Group initiatives - RE100, EP100 and EV100 linked to renewable electricity, energy efficiency and electric mobility, respectively.[23][24]

Awards and recognitions

  • The Great Place to Work Institute (India) has awarded the firm for four consecutive years (2020, 2021, 2022, and 2023) with the Great Places to Work (GPTW).[25][26][27][28]
  • In 2023, the company was awarded as India's Best Workplaces for Women 2023 by the Great Places to Work Institute.[29][30]

References

  1. ^ "H2 should be a very good for the industry and 2020 a strong year: Sanjay Sethi, Chalet Hotels". Economics Times. 2019-10-11. Retrieved 2023-09-20.
  2. ^ "$5 trillion economy: CFOs say ease of doing business, credit support crucial to achieve the goal". Economics Times. 2023-09-12. Retrieved 2023-10-04.
  3. ^ "Chalet Hotels Limited appoints Shwetank Singh as chief growth and strategy officer". Economics Times. 2023-08-23. Retrieved 2023-09-20.
  4. ^ "COVID brought investment opportunities to India: Rajneesh Malhotra". Economics Times. 2020-10-14. Retrieved 2023-09-20.
  5. ^ "Chalet Hotels Limited appoints Vishal Sharma as senior VP, projects". Economic Times. 2023-05-19. Retrieved 2023-09-20.
  6. ^ "Rashna Kapadi appointed as Associate Vice President, Architecture at Chalet Hotels Limited". Business World. 2020-10-25. Retrieved 2023-09-20.
  7. ^ "Now, investors can safely check into K Raheja Corp's Chalet Hotels". Business Standard. 28 Jan 2019. Retrieved 20 Sep 2023.
  8. ^ "Multibagger stock: 200% in 2 years! Here's why ICICI Securities is betting on Chalet Hotels". Business Today. 2023-08-29. Retrieved 2023-09-20.
  9. ^ Unnikrishnan, C H (2023-08-29). "Chalet Hotels plans 1000 more rooms across India; MD says all are under development already". cnbctv18.com. Retrieved 2023-10-04.
  10. ^ Sonavane, Ravindra N. (2019-02-07). "Chalet Hotels lists at 4% premium on stock market debut". mint. Retrieved 2023-09-20.
  11. ^ Krishnan, Janaki (2023-09-29). "Hotel demand to grow in double digits with high rates, occupancies: CEO of Chalet Hotels". BusinessLine. Retrieved 2023-10-04.
  12. ^ Joshi, Navisha (2023-06-06). "Chalet Hotels launches all-women operated hotel in Hyderabad, stock gains marginally". Moneycontrol. Retrieved 2023-09-20.
  13. ^ "Chalet buys Novotel, affiliate for Rs 290 crore". The Times of India. 2020-01-19. ISSN 0971-8257. Retrieved 2023-09-20.
  14. ^ Chaturvedi, Anumeha (2020-01-02). "Chalet Hotels signs 5 new management deals with Marriott". The Economic Times. ISSN 0013-0389. Retrieved 2023-09-20.
  15. ^ "Tata Power hits 52-week high as arm signs agreement with Chalet Hotels". Moneycontrol. 2023-09-04. Retrieved 2023-10-04.
  16. ^ "Chalet Hotels plans 1000 more rooms across India; MD says all are under development already". cnbctv18.com. 2023-08-29. Retrieved 2023-09-20.
  17. ^ Khosla, Varuni (2023-03-23). "Chalet Hotels acquires 80-room hotel in Khandala for ₹133 crore". mint. Retrieved 2023-09-20.
  18. ^ Dhanjal, Swaraj Singh (2019-01-25). "Hospitality firm Chalet Hotels to launch ₹1,641 cr IPO on 29 January". mint. Retrieved 2023-09-20.
  19. ^ "Chalet Hotels Consolidated December 2021 Net Sales at Rs 164.18 crore, up 92.98% Y-o-Y". Moneycontrol. 2022-01-28. Retrieved 2023-09-20.
  20. ^ "Chalet Hotels Limited reports all-time high quarterly for Q4FY23". BW Hotelier. Retrieved 2023-09-20.
  21. ^ Hora, komal (2023-05-09). "Chalet Hotels Limited announces Q4FY23 Results". Hospitality Lexis. Retrieved 2023-09-20.
  22. ^ "Chalet Hotels celebrates Earth Day with a plantation drive to invest in the planet". BW Hotelier. Retrieved 2023-09-20.
  23. ^ "Chalet Hotels joins Climate Group's initiatives linked to renewable energy, electric mobility". Moneycontrol. 2021-09-21. Retrieved 2023-10-31.
  24. ^ ETEnergyworld.com. "Chalet Hotels joins Climate Group's initiatives on renewable energy - ET EnergyWorld". ETEnergyworld.com. Retrieved 2023-10-31.
  25. ^ "Chalet Hotels in list of India's Great Mid-Size Workplaces for fourth consecutive year". BW Hotelier. Retrieved 2023-10-31.
  26. ^ "Chalet Hotels attains 'Great Place to Work' title for the 2nd consecutive year". BW Hotelier. Retrieved 2023-09-20.
  27. ^ "Chalet Hotels Limited Receives Great Place to Work Certification For The Third Time In A Row". Outlook India. 2022-03-22. Retrieved 20 Sep 2023.
  28. ^ "Chalet Hotels in list of India's Great Mid-Size Workplaces for fourth consecutive year". BW Hotelier. Retrieved 2023-09-20.
  29. ^ "Chalet Hotels certified among India's Top 10 Best Workplaces for Women 2022 by Great Place to Work® India". BW Hotelier. Retrieved 2023-10-31.
  30. ^ "Chalet Hotels Limited, a Great Place to Work". www.greatplacetowork.com. Retrieved 2023-10-31.
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