Chalet Hotels Ltd .: Chalet Hotels looking for troubled assets affected by Covid

By Malavika Kaur Makol

Mumbai-based Chalet Hotels Ltd., which owns, develops and operates high-end hotels in major Indian cities, is looking for struggling hotel assets as falling Covid-19 infection rate allows parts of the country to relax movement restrictions.

“We definitely want to expand into the corporate leisure sector. We don’t have any leisure assets, ”said Sanjay Sethi, CEO of Chalet Hotels, in an interview with Bloomberg Television on Tuesday. “Goa could potentially be a target market for us. Maybe something in Delhi and a few cities where we are not present at the moment.

The hotel chain currently owns properties in Mumbai, Pune, Hyderabad and Bengaluru and, like the rest of the hotel industry, braces for a revival as India recovers from a second wave of the deadly virus in recent months which triggered local blockades and brought in business as well. let leisure travel stop.

“We’ve had about five quarters since March 2020,” Sethi said, adding that his business had managed to rebound quickly after the first wave last year. “The second wave hit us in March of this year. It took our breath away for a few months. We seem to be recovering now. ”

Chalet has several options to finance its growth if necessary, according to Sethi. “I hope that with the vaccination campaign that continues now, we should be out of the woods in the next two quarters.

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