Chalet Hotels to Acquire Courtyard by Marriott Aravali Resort – India Report
Photo Credit: The 158-key Courtyard by Marriott Aravali Resort opened in June 2022. Marriott
Skift Take
The resort marked Mankind Pharma family's foray into hospitality in 2022. Post acquisition, it is now Chalet Hotels' second property in North India.
Hotel developer Chalet Hotels has announced that it is in the process of acquiring Courtyard by Marriott Aravali Resort. The 158-key resort, located near Delhi, is under the ownership of Ayushi and Poonam estates. It has been operational since June 2022.
The enterprise value of the transaction is INR 3.15 billion ($38 million). The resort has reported average daily rates of INR 13,500 ($163) between April 1 and December 31, 2023. It had an occupancy rate of 44% during this period.
Chalet’s venture into North India: Chalet Hotels Limited is a hotel owner and developer company, under the K Raheja Corp. Chalet developed eight hotels in Maharashtra and southern states of India, partnering with brands such as Marriott International and Accor for management of these properties. The company has currently nine operational properties.
Chalet's first project in North India was announced when it was awarded the contract to develop a hotel at the T3
