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Raheja’s Chalet Hotels plans to invest Rs 3000 crore to Double the Business

K Raheja Corp’s hospitality venture Chalet Hotels that owns including Marriott and Renaissance, is looking to double its portfolio with total planned expenditure of Rs 3,000 crore at the time when markets are good with an excellent growth forecast.
The company is looking to de-risk geographically by investing in luxury properties in other tier-I cities including Bengaluru, Goa, the National Capital Region and Pune apart from increasing its presence in Mumbai. Their current portfolio is around 2,800 rooms, is planning to add around 1,500-2,000 keys.
They are looking at expanding capacity in Mumbai and Hyderabad and looking for acquisition of operating hotels in Delhi, Pune and Goa,” Sanjay Sethi, MD & CEO, Chalet Hotels, makes a point.
The proposed expansion plan will be financed through a mix of internal accruals, group resources and debt.
For the year 2017-18, the company expects 20% year-on-year growth in top line and 30% growth in EBITDA. The company’s portfolio recorded total occupancy of 74% with an average room rate of Rs 8,500 net of taxes in 2016-17.

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HospitalityriseRaheja’s Chalet Hotels plans to invest Rs 3000 crore to Double the Business

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