Chalet Hotels to buy 141 room luxury resort in Rishikesh
Hospitality firm Chalet Hotels has got approval from its board to acquire the Mahananda Spa and Resorts, the company behind The Westin Resort and Spa in Rishikesh. The deal for the 141-room luxury resort is done for Rs 530 crore. As per the firm, the acquisition is part of a strategy to strengthen its presence in India's luxury and leisure segment.
The property reported an average daily rate of over ?26,000 as of year-to-date December 2024, with an occupancy of 45%.
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