"This, one of the largest ever deals signed in the Luxury and Upper‐upscale hotel tier in India, leverages historical synergies between Chalet and Marriott International. The 1500+ keys come at a time when the demand and supply arbitrage is favorable for the industry, providing exciting growth opportunities for both companies," the company said.
At 9:39 AM, the stock was trading 6.5 per cent higher at Rs 378.25 apiece on the BSE. In comparison, the benchmark S&P BSE Sensex was at 41,459.46 level, down 98 points or 0.28 per cent. The stock, which debuted at the bourses on February 7 this year, has gained 22 per cent till December 30.
Last week, Chalet Hotels
had entered into a Franchise Agreement and other related agreements with Hyatt India Consultancy and its affiliates for the brand 'Hyatt Regency' in respect of its upcoming hotel at Airoli in Mumbai. The company’s upcoming nearly 260 keys hotel at Airoli, Navi Mumbai (Mumbai Metropolitan Region) will be the first Hyatt Regency branded hotel for Chalet. READ HERE