Chalet Hotels Ltd intends to increase its number of hotel rooms to approximately 5500 by the fiscal year 2030. This plan involves the company moving beyond the traditional asset ownership model. The company's Director and CEO, Shwetank Singh, stated that the company will utilize a combination of third-party managed hotels, franchised properties, and hotels under its own Athiva brand.
According to Singh's statement in an interview with PTI, Chalet's business model is transforming as it now implements all three types of models. Among the properties the company will manage will be well-known hotels such as Ritz-Carlton, which will be operated by external partners, as well as franchised properties like Taj, and assets under its own Athiva brand.
The company's upcoming portfolio includes a 350-room Taj hotel at Delhi Airport, with about 70 rooms expected to open by the end of the current fiscal year. Furthermore, the launch of Ritz-Carlton Hyderabad, Hyatt Regency Airoli, and a hotel in Udaipur is planned for the fiscal year 2029, while the Pune Yerawada project is slated for the fiscal year 2031.
Currently, the company has approximately 3389 operational rooms, and the announced portfolio of nearly 2300 rooms will increase the total to around 5500. Athiva, launched by Chalet in 2025, initially had a plan for about 900 rooms. Thanks to the recently announced projects in Pune and Hyderabad, the overall plan for the Athiva brand has grown to 1200–1300 rooms.
Singh emphasized that the company does not plan to launch new hotel brands but will focus its efforts exclusively on developing Athiva. Despite the expansion into commercial real estate, which includes about 2.4 million square feet in operation and another 900,000 square feet under construction, Singh noted that hospitality will remain the core focus of the company's operations.
The company is also considering additional opportunities, both greenfield and brownfield, beyond the already announced plan, but has not set a separate expansion target yet. Singh added that the company is well-capitalized and believes it can execute its expansion plans without a significant increase in debt.