Chalet Hotels Limited — Board Meeting, 10-02-2025: Outcome of Board Meeting

Chalet Hotels Limited has announced a board meeting where it approved the acquisition of Mahananda Spa and Resorts Private Limited, the owner of The Westin Resort & Spa, Himalayas in Rishikesh. The acquisition is valued at ₹530 crore and involves cash consideration. This move aligns with the company’s strategy to diversify its portfolio and expand in the leisure hospitality sector. Mahananda, a wholly-owned subsidiary of Mankind Pharma Limited, reported a revenue of ₹718.59 crore for the nine months ended December 2024, with an enterprise value of approximately ₹530 crore.