Chalet Hotels on Monday said it has signed a franchise agreement with Hyatt India Consultancy Pvt Ltd and its affiliates for Hyatt Regency in Navi Mumbai.
The upcoming around 260 keys hotel at Airoli, Navi Mumbai will be the first Hyatt Regency branded hotel for the company, Chalet Hotels said in a statement.
The project is estimated to be completed in 2022, it added.
"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, selection of the right brands continues to be a key focus for our company," Chalet Hotels MD and CEO Sanjay Sethi said.
Shares of Chalet Hotels closed at Rs 338 per scrip on the BSE, down 1.89 per cent from its previous close.
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