Chalet Hotels Limited (CHL) said on Friday it has executed ‘definitive’ agreements for the acquisition of the 158-room Courtyard by Marriott Aravali resort. The resort is spread over 14 acres of land.
CHL said it had executed the definitive agreement on February 28 for admission into the partnership viz. Ayushi and Poonam estates LLP, the owner of the property. The company said it will be concluding the formalities shortly. Hotelivate was the transaction advisor for the sellers.
Chalet said since its commencement in June 2022, the resort has been the preferred choice for leisure travellers, MICE and destination weddings and that it is ‘strategically’ located within 1.5 hours from New Delhi, Gurgaon and Noida. Chalet said the resort boasts easy accessibility to the Indira Gandhi International Airport New Delhi.
The property reported an average daily rate of Rs 13,500 for the year to date December FY24 with an occupancy of 44%.
Courtyard by Marriott Aravali has an all-day dining restaurant, a bar and lounge, a pool bar, and a pan-Asian restaurant. Its recreational facilities include a gym, a spa, pool and a dedicated kids’ play area.
Sanjay Sethi, MD and CEO at Chalet Hotels Courtyard by Marriott Aravali Resort aligns with the company’s growth strategy to expand into the leisure space at a drivable distance from the National Capital Region. “This strategic acquisition accentuates the company’s adaptability and growth prospects to capitalize on emerging opportunities and solidify its position as an industry leader,” he added.
