Chalet Hotels to Acquire Udaipur Resort for ₹171 Cr; Appoints New MD & CEO
Chalet Hotels Limited's Board approved acquiring a Udaipur resort for ₹171 crore, subject to due diligence. Mr. Shwetank Singh was appointed as MD & CEO, and Dr. Sanjay Sethi as Non-Independent Non-Executive Director, both effective February 1, 2026. Singh has 26 years of experience; Sethi has over 37 years.
The acquisition of a resort property and the appointment of a new MD & CEO are significant strategic decisions that will have a substantial impact on the company's future operations and direction.
The announcement is positive due to the proposed acquisition of a new resort property and the appointment of key leadership roles, indicating strategic growth and management transition.
Chalet Hotels Limited announced the outcome of its Board Meeting held on December 11, 2025. The Board has approved the proposed acquisition of a company that owns a resort property in Udaipur, Rajasthan. The resort has approximately 150 rooms and the proposed consideration for the acquisition is ₹171 crore, subject to adjustments for net assets/liabilities. This transaction is contingent upon the completion of successful due diligence and the execution of definitive agreements.
In addition to the acquisition, the Board approved the appointment of Mr. Shwetank Singh as the Managing Director and CEO of the Company, effective February 1, 2026. Mr. Singh, who joined Chalet Hotels in August 2023 as Chief Growth & Strategy Officer, brings approximately 26 years of experience, holding a B.Tech from IIT and an MBA in Finance & Marketing from FMS. The Board also approved the appointment of Dr. Sanjay Sethi as a Non-Independent Non-Executive Director, also effective February 1, 2026. Dr. Sethi has over 37 years of experience in the hospitality industry and previously founded Berggruen Hotels Private Limited. He has served 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, KMPs, or Promoters of the Company, and they are not debarred from holding directorships by any regulatory authority. The Board meeting commenced at 2:00 p.m. and concluded at 2:25 p.m.
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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.