Chalet Hotels on Monday said it has entered into five new agreements with global hospitality major Marriott International Inc extending their collaboration further.
Under the pacts, the company would build hotels and extend contracts across brands such as 'W', 'Westin' and 'Marriott Executive Apartment' in Hyderabad and Mumbai, Chalet Hotels said in a filing to the BSE.
"We are happy to end 2019 on a high note. These agreements fortify our two-decade long relationship with Marriott," Chalet Hotels MD and CEO Sanjay Sethi said.
The 1500-plus keys come at a time when the demand and supply arbitrage is favourable for the industry, providing exciting growth opportunities for both companies, it added.
Chalet Hotels Ltd (CHL) is an owner, developer and asset manager of high-end hotels in key metro cities in India.
Shares of Chalet Hotels were trading at Rs 362.35 per scrip on the BSE, up 3.48 per cent from its previous close.
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