K Raheja Corp’s hospitality company, Chalet Hotels has ambitious growth plans through both greenfield and brownfield acquisitions. Sanjay Sethi, Managing Director & CEO, Chalet Hotels, says, “We have about four hotels under development right now. These will add roughly about 800 more rooms to our current portfolio of 2800-odd rooms. These will take about two to three years to build.” Chalet Hotels currently has about eight hotels, of which seven are owned by Chalet Hotels 100 per cent and operated by Marriott. One out of the eight is run by Chalet Hotels. Speaking about the route that the hotel company will take for growth, Sethi says, “We have ambitious plans. We are looking at acquisition opportunities in the market and we want to grow through both greenfield and brownfield acquisitions.”
While charting these plans, Chalet Hotels will stay true to its portfolio which is largely upper, upscale and luxury segments. “Of course we are also looking at upscale assets also. So a couple of developments we are doing are in that segment. We will stay in the upscale and upper upscale because that’s a sweet spot for us. We might do select luxury, or mid-segment hotels as well,” Sethi adds.