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Chalet Hotels Limited has launched its new upper-upscale brand, ATHIVA Hotels & Resorts, beginning with six properties across India. The project involves an investment of about INR 1,500 crore, mostly funded through internal accruals. The first property, The Dukes Retreat in Khandala, will open this week, marking ATHIVA's debut. The upcoming hotels include a renovated business property in Navi Mumbai, The Resort at Aksa Beach, and three greenfield projects in Goa and Thiruvananthapuram. The company expects all six properties to become operational by 2029 and aims to double ATHIVA's portfolio to 1,800 rooms within three years.
Chalet Hotels Limited has launched a new upper-upscale hospitality brand named ATHIVA Hotels & Resorts, introducing it through six properties with more than 900 keys. The company has allocated around INR 1,500 crore for this development, most of which has already been invested. The funding was arranged mainly through internal accruals, reflecting Chalet's strong financial position and controlled debt levels. Advertisement
The first hotel under the ATHIVA brand is the renovated 147-room property, The Dukes Retreat in Khandala, Maharashtra, which is set to begin operations this week. The launch marks the start of ATHIVA's presence in the Indian hospitality market, focusing on refined stays in key leisure and business destinations.
The remaining five properties include a fully upgraded business hotel in Navi Mumbai, The Resort at Aksa Beach (a K Raheja Corp Group property), and three upcoming greenfield developments-two in Goa and one in Thiruvananthapuram. These projects are planned to be completed and operational by 2029, adding a total of over 900 keys under the ATHIVA name.
Chalet Hotels' Managing Director and CEO Sanjay Sethi said the company's financial structure remains healthy, with a positive debt-to-EBITDA ratio that provides flexibility for future expansion. He mentioned that Chalet has sufficient headroom to support growth through a balanced mix of debt and equity but intends to fund future projects mainly from internal accruals.
Over the next three years, the company expects to add about 300 to 400 keys annually under the ATHIVA brand, which would expand its current capacity of around 900 rooms to nearly 1,800 rooms. The planned growth aligns with Chalet's broader strategy of strengthening its presence in India's upper-upscale and premium hotel segment.
Sethi also explained that the immediate focus for ATHIVA's growth would remain within India, emphasizing tier-I markets and select high-demand leisure regions. The company is exploring opportunities in Goa, Rajasthan, and the Himalayan states, along with southern markets such as Thiruvananthapuram, where strong business and tourism demand support new developments.
Chalet Hotels Limited, a part of K Raheja Corp, currently owns and operates 11 hotels and resorts with about 3,351 keys across well-known international brands such as JW Marriott, The Westin, and Novotel. The introduction of ATHIVA expands Chalet's presence into a segment where it can directly manage its own properties while continuing to collaborate with established hospitality partners.
Source PTI
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