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Chalet Hotels scouts for distressed assets in hospitality sector

Chalet is also developing two office towers in Mumbai and Bengaluru

Luxury Hotels

The rise of domestic travel, helped by rising income levels, is helping the industry offset the sluggishness in business from foreign visitors

Shally Seth Mohile Mumbai
Chalet Hotels, a K Raheja group firm, is scouting for acquisitions as it seeks to ramp up presence in the hospitality space, said a top company official. 

The developer and asset manager of global hospitality brands, including JW Marriott and Renaissance, are also developing three greenfield hotel projects and a couple of office towers in Mumbai and Bengaluru to tap the burgeoning demand. Chalet has outlined a capital expenditure of Rs 1,100 crore for the projects. 

The Mumbai-based firm, which recently concluded an initial public offering (IPO), has pared its debt to Rs 1,500 crore from Rs 2,600 crore. The capex requirement

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First Published: Feb 27 2019 | 9:50 PM IST

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