Chalet Hotels gets nod to develop 330 rooms Luxury Hotel in Hyderabad
The company will invest around Rs 632.80 crore (including Security Deposit) in the Hotel
Chalet Hotels has secured its board’s approval for development of a proposed around 330 rooms Luxury Hotel along with commercial/retail space of around 36,255 square feet at Madhapur in Hyderabad. The envisaged Hotel is being developed as part of a building premises which will be availed on a warm shell lease. Once operational, this shall be the company’s third hotel at Hyderabad.
The company will invest around Rs 632.80 crore (including Security Deposit) in the Hotel, which will be funded through combination of internal accruals and debt. The Hotel is expected to be operational by FY2029 and is in line with the investment and expansion strategy of the company.
Chalet Hotels (CHL), is an owner, developer and asset manager of high-end hotels in key metro cities in India.
