Chalet Hotels jumps 5% on signing franchise agreement with Hyatt Group

Chalet Hotels had made its debut on the stock exchanges earlier this year. The initial public offering (IPO) of the company was subscribed 1.57 times

Shares of Chalet Hotels climbed over 5 per cent on the BSE in the early trade on Tuesday after the company entered into a Franchise Agreement and other related agreements with Hyatt India Consultancy and its affiliates for the brand 'Hyatt Regency' in respect of its upcoming hotel at Airoli in Mumbai.

At 09:29 am, the stock was trading over 2 per cent higher at Rs 345.60 apiece. In comparison, the benchmark S&P BSE Sensex was trading around 8 points or 0.07 per cent higher at 41,673 levels.

On Monday, Chalet Hotels, in a regulatory filing, said it has signed