Mumbai's Chalet hotels scouting for distressed assets as Covid curbs ease

'We've had a rough five quarters now since March of 2020,' says company's CEO Sanjay Sethi.

Mumbai-based Chalet Hotels Ltd., which owns, develops and manages high-end hotels in larger Indian cities, is scouting for distressed hospitality assets as the declining rate of Covid-19 infections enables some parts of the country to ease movement curbs.
 

“We certainly want to expand into the leisure side of the business. We don’t have a leisure asset,” Sanjay Sethi, Chalet Hotels’s chief executive officer said in a Bloomberg Television interview Tuesday. “Goa could potentially be a target market for us. Maybe something in Delhi and a couple of cities where we’re not present in right now.”

The hotel chain currently