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Chalet Hotels Ltd.

BSE: 542399 Sector: Services
NSE: CHALET ISIN Code: INE427F01016
BSE 00:00 | 22 Mar 325.25 2.75
(0.85%)
OPEN

313.00

HIGH

330.05

LOW

312.30

NSE 00:00 | 22 Mar 321.15 -1.85
(-0.57%)
OPEN

316.55

HIGH

327.70

LOW

314.45

OPEN 313.00
PREVIOUS CLOSE 322.50
VOLUME 11667
52-Week high 347.00
52-Week low 250.15
P/E 264.43
Mkt Cap.(Rs cr) 6,668
Buy Price 317.05
Buy Qty 20.00
Sell Price 332.00
Sell Qty 11.00
OPEN 313.00
CLOSE 322.50
VOLUME 11667
52-Week high 347.00
52-Week low 250.15
P/E 264.43
Mkt Cap.(Rs cr) 6,668
Buy Price 317.05
Buy Qty 20.00
Sell Price 332.00
Sell Qty 11.00

Chalet Hotels Ltd. (CHALET) - Company History

Chalet Hotels Limited was incorporated as a private limited company with the name Kenwood Hotels Private Limited on January 6 1986. On July 19 1997 the Company was converted into a public company and consequently the name was changed to Kenwood Hotels Limited. Pursuant to a resolution of the shareholders dated March 2 1998 and a fresh certificate of incorporation issued by the RoC on April 6 1998 the name of the Company was changed to K. Raheja Resorts & Hotels Limited. Further pursuant to a resolution of the shareholders dated April 24 1999 and a fresh certificate of incorporation issued by the RoC on May 4 1999 the name of the Company was changed to Chalet Hotels Limited. On the conversion of the Company to a private limited company pursuant to a resolution passed by the shareholders dated August 25 2011 and a fresh certificate of incorporation issued by the RoC on October 15 2011 the name was changed to Chalet Hotels Private Limited. Subsequently pursuant to a resolution passed by the shareholders on June 4 2018 and a fresh certificate of incorporation issued by the RoC on June 6 2018 the Company was converted to a public limited company and the name was changed to Chalet Hotels Limited.The Company is an owner developer and asset manager of high-end hotels in key metro cities in India. The Company's hotel platform comprises five operating hotels including a hotel with a co-located serviced residence located in the Mumbai Metropolitan Region Hyderabad and Bengaluru representing 2328 keys as of September 30 2018. Its hotels are branded with globally recognized hospitality brands and are in the luxury-upper upscale and upscale hotel segments according to the Horwath Report. Its hotel platform emphasizes strategic locations efficient design and development appropriate positioning in hotel segments together with branding and operational tie-ups with leading hospitality companies. In addition the company has developed commercial and retail spaces in close proximity to certain of their hotels.The Company seeks to brand its hotels with leading global hospitality brands. This allows them to save on the time and cost required to build develop and maintain its `own hotel brand'. The Company's hotels are currently branded with global brands such as JW Marriott Westin Marriott Marriott Executive Apartments Renaissance and Four Points by Sheraton which are held by Marriott Hotels India Private Limited and its affiliates (collectively Marriott). The Company also determines by detailed financial and operational analysis whether hotel operations should be undertaken directly by the company or by engaging third party hotel operators. Currently its hotel at Vashi Navi Mumbai is operated by them under a license agreement with Marriott and four of their hotels including its serviced residence are operated pursuant to hotel operation and related agreements with Marriott. The Company follows an active asset management model for their hotels operated by third parties pursuant to which the company closely monitors and exercise regular oversight over the performance of their hotel properties. The Company is part of K. Raheja Corp group which is a leading business group in India. The companies forming part of the K. Raheja Corp group (K. Raheja Companies) have extensive experience in developing large scale real estate hospitality and commercial projects resulting in a strong understanding of industry and market trends. The Promoters include Mr. Ravi C. Raheja and Mr. Neel C. Raheja who have been instrumental in the growth of business and actively advise the company on finance corporate strategy and planning as well as its hotel and retail businesses. The Company has a strong management team with significant industry experience.