Chalet Hotels Limited (CHL) has received the approval of the board of directors for the acquisition of Mahananda Spa and ResortsPrivate Limited, owning company of The Westin Resort and Spa, Himalayas (TWRS) in Rishikesh, a stunning 141-room luxury resort, nestled in the Himalayas. This strategic acquisition strengthens the company’s position in the high-growth leisure, spiritual and wellness tourism market, unlocking new opportunities for premium experiences and long-term value creation.

CHL is in the process of entering into a definitive agreement with Mankind Pharma Limited for a 100% stake in Mahananda Spa and Resorts Private Limited, the owning company of the property at an enterprise value of Rs. 5.3 Billion. CHL will be concluding the formalities shortly.

The Westin Resort C Spa, Himalayas, known for its wellness-focused experiences, opened its doors in January 2023. For its second year of operations, the property reported an ADR of overRs.26,000 as ofYTD Dec 24 with an occupancy of 45%.Strategically located in the foothills of the Himalayas, near the spiritual and yoga hub of Rishikesh, the resort features 141 elegantly designed rooms, over 10,000 sq.ft. of event space, world-class dining options, and premium wellness amenities, including the Heavenly® Spa by Westin and the WestinWorkout® Fitness Studio. The pillarless Grand Ballroom is one of the region’s largest conference halls—the resort’s outdoor lawns provide idyllic settings for weddings. The resort is 45 minutes from Jolly Grant Airport Dehradun and offers many recreation opportunities.

Key highlights of the performance

Speaking on the acquisition, Dr Sanjay Sethi, MD G CEO, Chalet Hotels Limited, said: “This proposed acquisition will be a key milestone in ChaletHotels’ strategy to expand its footprint in India’s high-growth luxury and leisure segment. The Westin Resort & Spa, Himalayas, is a premier wellness destination that perfectly aligns with our vision of offering world-class hospitality experiences. With its breathtaking location and exceptional amenities, this property will strengthen our leisure portfolio and allow us to cater to the evolving preferences of modern travellers. We look forward to elevating the guest experience and further driving sustainable growth with this new addition.”