| Mahananda Spa and Resorts, a material wholly owned (unlisted) subsidiary of Chalet Hotels has acquired land admeasuring ~18,848 square meters at Narendra Nagar in Uttarakhand, for a cash consideration of Rs.60 crore. The land is in proximity of the existing hotel viz. The Westin Resort & Spa, Himalayas and is a strategic investment for expansion in a high end and deep leisure market. |