Chalet Hotels Acquires Udaipur Resort for ₹171 Crore, Appoints New MD & CEO
Chalet Hotels will acquire a Udaipur resort with 150 rooms for ₹171 crore, subject to due diligence. The company also appointed Mr. Shwetank Singh as MD & CEO and Dr. Sanjay Sethi as Non-Independent Non-Executive Director, both effective February 1, 2026.
The acquisition of a resort property and significant leadership changes (MD & CEO appointment) are material events that can significantly impact the company's future operations and strategic direction.
The company is undertaking strategic growth through acquisition and strengthening its leadership team with experienced professionals, which are positive developments.
Chalet Hotels Limited announced today, December 11, 2025, that its Board of Directors has approved the proposed acquisition of a resort property in Udaipur, Rajasthan. The resort features approximately 150 rooms and the acquisition is valued at ₹171 crore, subject to adjustments for net assets and liabilities. The transaction is contingent upon successful due diligence and the execution of definitive agreements, along with necessary statutory approvals.
In addition to the acquisition, the Board approved significant leadership changes. Mr. Shwetank Singh has been appointed as the Managing Director and CEO of the company, effective February 1, 2026, for a term of three years. Mr. Singh, who joined Chalet Hotels in August 2023 as Chief Growth & Strategy Officer, brings around 26 years of experience, including a B.Tech from IIT and an MBA in Finance & Marketing from FMS. He previously served as Head of Business with Golden Sands LLC, Dubai.
Furthermore, Dr. Sanjay Sethi has been appointed as a Non-Independent Non-Executive Director, also effective February 1, 2026. Dr. Sethi has over 37 years of experience in the hospitality industry, having founded Berggruen Hotels Private Limited and held leadership positions at Taj Group of Hotels and ITC Limited. He has been serving as the Managing Director and CEO of Chalet Hotels Limited since February 2018. Neither Mr. Singh nor Dr. Sethi are related to any existing Directors, Key Managerial Personnel, or Promoters of the Company, and they are not debarred from holding office.
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Chalet Hotels Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Chalet Hotels Limited. Read the original for the full detail.