Chalet Hotels acquires Courtyard by Marriott Aravali resort, NCR

Chalet Hotels Limited announced the execution of definitive agreements for the acquisition of ‘Courtyard by Marriott Aravali Resort, NCR’, a 158-room resort with 14 acres of land. CHL executed the definitive agreement for admission into the partnership ‘Ayushi and Poonam Estates LLP’, owner of CYMA. The Enterprise Value for the transaction is at ₹315 crore. 

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The company informed, since its commencement in June 2022, the resort has been the preferred choice for leisure travellers, MICE, and destination weddings. It is located within 1.5 hrs from New Delhi, Gurgaon, and Noida, and has accessibility to Indira Gandhi International Airport, New Delhi.

The company further informed, CYMA features an all-day dining restaurant, a bar & lounge, a pool bar, and a pan-Asian restaurant. It offers facilities such as a gym, spa, pool, and a kids’ play area and offerings like zipline, quad bike, automated paintball arena, artificial climbing, horse riding, camel cart.

Sanjay Sethi, MD & CEO at Chalet Hotels Limited, stated, “Courtyard by Marriott Aravali Resort aligns seamlessly with our stated growth strategy to expand into the leisure space at a drivable distance from the National Capital Region. This strategic acquisition accentuates the company’s adaptability and growth prospects to capitalise on emerging opportunities and solidify its position as an industry leader.”

However, the shares were down by 0.78 per cent to ₹804.10 at 10.54 am on the BSE.