Chalet Hotels expands its portfolio by signing agreement with Hyatt Hotels

On Monday, Chalet Hotels informed the bourses that it has signed a franchise agreement with Hyatt India Consultancy Private Limited (Hyatt) and affiliates for Hyatt Regency, Airoli Navi Mumbai.

The company’s upcoming ~260 keys hotel at Airoli, Navi Mumbai (Mumbai Metropolitan Region), will be the first Hyatt Regency branded hotel for Chalet. The hotel occupies a strategic location in the heart of the commercial district. This project is likely to be to be completed in 2022, subject to approvals.

Chalet Hotels Ltd’s Hotel platform comprises five operating hotels and a hotel with a co-located service residence. The company's assets are currently branded with several global partners, such as JW Marriott, Westin, Marriott, Marriott Executive Apartments, Renaissance, and Four Points by Sheraton, which are part of the Marriott Group. As on H1FY20, its geographical revenue mix comprises of Mumbai Metropolitan Region- 62 per cent, Bengaluru- 19 per cent, and Hyderabad- 19 per cent.

Today, the stock witnessed gap up opening by 3.5 per cent at Rs 350.