Chalet Hotels signed a Share Purchase Agreement (SPA) for the purchase of Belaire Hotels, owner of Novotel Pune Nagar Road Hotel and its affiliate entity Seapearl Hotels based on an aggregate enterprise value of Rs.290 crore. The completion of the transaction is subject to fulfillment of certain conditions precedent as agreed in the SPA.
With this new relationship, Chalet marks the beginning of its tie-up with Accor, one of the largest global hospitality players with significant presence in India with key brands such as 'Fairmont', 'Sofitel' 'Novotel' and 'ibis' amongst others.
Chalet enjoys a successful and long-standing relationship with the Marriott group, who is the operator/brand partner across six brands within the operating portfolio with an offering of 2,331 rooms.
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