Chalet Hotels charts growth to 5,500 keys with diversified business model

Chalet Hotels Ltd plans to grow its portfolio to approximately 5,500 hotel keys by FY30, marking a strategic departure from its traditional asset-ownership model, according to the company's MD and CEO Shwetank Singh.

The hospitality chain is now pursuing a diversified approach that encompasses three distinct operational models: third-party managed properties such as Ritz-Carlton, franchise agreements including Taj Hotels, and accommodations under its proprietary Athiva brand, which accounts for 1,200-1,300 keys in the development pipeline.

"We have graduated from a pure asset-ownership model to having all three models in play," Singh said in an interview. "We will continue to have properties such as the Ritz-Carlton that are operated by third parties, franchise properties like Taj, and properties under our own Athiva brand."

The company's near-term expansion includes a 380-room Taj hotel at Delhi Airport, with approximately 70 rooms scheduled to become operational by the end of the current financial year. Additional properties under development include Ritz-Carlton Hyderabad, Hyatt Regency Airoli and a Udaipur property.

This strategic diversification reflects broader industry trends as hospitality operators seek to balance capital efficiency with brand expansion and revenue growth across India's growing hotel market.