Chalet Hotels Ltd has inked a franchise deal with Hyatt India Consultancy Pvt Ltd and its affiliates for Hyatt Regency Navi Mumbai Airoli. The upcoming 260-key hotel will be the first Hyatt Regency branded hotel for Chalet.
The new hotel will enable business travellers a convenient accommodation as well as an easy commute between Navi Mumbai and Thane. The project will likely be completed in 2022.
Sanjay Sethi, Managing Director and CEO, Chalet Hotels Ltd, said, “We are pleased to announce this new collaboration with the Hyatt Group, one of the leading global hospitality brands. As part of our growth strategy of strengthening and expanding our portfolio, the selection of the right brands continues to be a key focus for our company.”
Dhruva Rathore, Vice President for Development in India at Hyatt, stated, “The hotel represents an excellent opportunity to establish the Hyatt Regency brand in the high growth market of Navi Mumbai with an established and reputable owner. It enjoys an important location amid corporate businesses and will also cater to multiple hospitality demand segments.”
Chalet Hotels Portfolio
Chalet Hotels, part of the K Raheja Corp, is an owner, developer and asset manager of high-end hotels in key metro cities. The hotel platform of the company comprises five operating hotels, including a hotel with a co-located service residence situated in the Mumbai Metropolitan Region, Hyderabad and Bengaluru.
Currently, Chalet Hotels’ assets are branded with several global partners like JW Marriott, Westin, Marriott, Marriott Executive Apartments, Renaissance, and Four Points by Sheraton, which are part of the Marriott Group. Until H1FY20, the company’s geographical revenue mix consists of Mumbai Metropolitan Region- 62%, Bengaluru- 19%, and Hyderabad- 19%.
Indian Hotel Industry
The Indian hotel industry is estimated to grow at a Compounded Annual Growth Rate (CAGR) of 15% over the next five years.
India ranks 18th in business travel, as per the World Travel and Tourism Council. In India, the success rate of the hotel industry is the second-highest in the world after China.
The hotel industry is set to grow by 15% every year. The demand for hotel rooms has been increased due to the boom of information technology, telecom, retail, and real estate. The country’s increasing stock market and new business opportunities are attracting foreign investors. Hence, there is a tremendous scope of growth for hotel brands in the country.
