Chalet Hotels Limited (CHL), owner, developer, asset manager and operator of high-end hotels and resorts in India, marks its investment foray into leisure as it signs definitive agreements for the ‘ACQUISITION OF THE DUKES RETREAT’, an 80-room resort, spread over ~7.5 acres, surrounded by gorgeous waterfalls stunning views of the Western Ghats.
The resort land is owned by Sonmil Industries Pvt. Ltd., while the hotel structure and its business are owned by The Dukes Retreat Pvt. Ltd. Upon completion of the transaction, Chalet will finalize its plans of expansion and up-gradation of the property to reposition it as an upper-upscale green, lifestyle resort.
The Dukes Retreat is strategically located at a comfortable drivable distance from both Mumbai and Pune. The 80-room resort includes 18 Deluxe Rooms, 54 Executive Rooms and 8 Cottages, and offers a gourmet experience at the in-house restaurant with panoramic views of the cliffs and valleys.
With this acquisition, CHL will further enhance diversification in its portfolio by expanding its owned asset portfolio in the leisure segment.
Following the announcement, Sanjay Sethi, MD & CEO at Chalet Hotels Limited, said, “‘Chalet Hotels Ltd is positioned in a sweet spot with several of its capex projects approaching commercial opening in the next few months. The Dukes Retreat is the new addition.”
