Chalet Hotels completes acquisition of 'The Dukes Retreat' at Khandala

Chalet Hotels (CHL), owner, developer, asset manager and operator of high-end hotels and resorts in India, marks its investment foray into leisure as it completes the 'ACQUISITION OF THE DUKES RETREAT', an 80-room Resort, spread over ~7.5 acres, surrounded by gorgeous waterfalls and picturesque views of the Western Ghats. A dominant player in the business hospitality space, CHL has an earned repute of creating asset value through curations of high-end hospitality assets in key metro cities and offering exceptional guest experiences.

CHL has completed the acquisition for an Enterprise Value of Rs. 133 crore(to be adjusted for cash on books) by way of purchase of equity shares of:

The Dukes Retreat: Owner of hotel structure and business
Sonmil Industries: Owner of the land of the hotel

With this acquisition, CHL will extend its expertise towards expansion and up-gradation of the property to reposition it as an upper-upscale, green, lifestyle resort.

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