Chalet Hotels, part of the K Raheja Group, has acquired Mahananda Spa and Resorts, owner of The Westin Resort & Spa, Himalayas, for INR 350 crore. It will have a 100% stake in the resort. his strategic acquisition marks Chalet Hotels’ entry into the burgeoning wellness and leisure destination of Rishikesh, further solidifying its presence in key hospitality markets across the country.
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With this deal, Chalet Hotels will expand its presence in the booming spiritual, leisure, and wellness tourism market. It will help them garner new opportunities for long-term value creation and high-class experiences.
Mahananda Spa and Resorts, known for its serene location amidst the Himalayan foothills and its focus on holistic wellness experiences, boasts a substantial inventory of well-appointed rooms and suites, extensive spa facilities, multiple dining options, and ample space for recreational activities and events. This acquisition aligns perfectly with Chalet Hotels’ strategy of expanding into leisure destinations and catering to the growing demand for premium wellness and experiential travel.
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Sanjay Sethi, Managing Director and Chief Executive Officer, Chalet Hotels Limited added that The Westin Resort & Spa, Himalaya is a leading wellness hotspot that offers state-of-the-art hospitality services, which aligns with their vision. Furthermore, the location of the property is perfect with outstanding facilities which will fulfill the dynamic wants of modern travellers. It will also improve the leisure portfolio of the company.
The INR 530 Crore investment underscores Chalet Hotels’ confidence in the long-term growth potential of the Indian hospitality sector, particularly in leisure and wellness-focused locations. Rishikesh, renowned as the “Yoga Capital of the World,” attracts a significant number of domestic and international tourists seeking spiritual retreats, adventure activities, and wellness therapies. The addition of Mahananda Spa and Resorts will allow Chalet Hotels to tap into this thriving market segment and diversify its revenue streams.
