Chalet Hotels Limited IPO
(i) Chalet Hotels Limited (CHL) is an owner, developer and asset manager of high-end hotels in key metro cities in India. The company’s hotel platform comprises Six operating hotels including a hotel with a co-located serviced residence, located in the key Indian cities of Mumbai, Hyderabad, and Bengaluru, representing 2,328 keys as of March 31, 2018.
(ii) CHPL is promoted by the C. L. Raheja Group (‘the group’), which has diversified business interests across Real estate development (residential and commercial), hospitality and retail. The group is a leading player in the commercial real estate development with a developed area of over 20 million square feet (sq. ft.). CHPL is the hospitality arm of the group and benefits from the vast experience of the group in real estate development, while also enjoying the financial flexibility in funding its project.
(iii) CHPL has a tie-up with well-known international hospitality group Marriott International Inc (Marriott). The CHPL gets hotel management support from Marriott , renowned international hospitality chains with well-established global brands. All the six hotels owned by the company belong to the premium brands of Marriott, thus benefiting from Marriott’s global branding, marketing, and advertising network.
(iv) The strength of the Company’s hotel platform is based on strategic locations, efficient design and development of the hotels, appropriate positioning in hotel segments together with branding and operational tie-ups with leading hospitality companies. All the hotel assets are located in high-density business districts of their respective metro cities with high barriers-to-entry close to airports, major business centers or commercial districts and other convenient locations. CHL also endeavor to build hotels to superior standards targeting the luxury-upper upscale and upscale hotel segments at an efficient gross built-up area and development cost per key.
(v) The Company has also developed commercial and retail spaces at close proximity to its hotels. The Company has a competitive advantage in key metro cities due to its early mover advantage in large, mixed-use developments in specific micro-markets.
Objects of the Chalet Hotels Limited IPO:
Chalet Hotels Limited IPOare: A) The Offer for Sale B) Fresh Issue of 950 Cr 1. Repayment/Prepayment of Certain Indebtedness. 2. General Corporate Purposes.
Chalet Hotels Limited IPO Details:
|Open Date:||Jan 29 2019|
|Close Date:||Jan 31 2019|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Book Building|
|Issue Size:||1641 Cr.|
|Lot Size:||53 Shares|
|Issue Price:||₹ 275-280 Per Equity Share|
|Listing Date:||Feb 07 2019|
Promoters And Management:
Financials of Chalet Hotels Limited IPO:
Comparison With Peers: