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 five 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. All the hotels are branded with globally recognized brands, such as, JW Marriott, Westin, Marriott, Marriott Executive Apartments, Renaissance and Four Points by Sheraton, which are held by Marriott Hotels India Private Limited and its affiliates. The four hotels properties and a serviced residence which are managed by third parties are JW Marriott Hotel Mumbai Sahar, Bengaluru Marriott Hotel Whitefield, The Westin Hyderabad Mindspace, Renaissance Mumbai Convention Center Hotel and Marriott Executive Apartments.
(ii) 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.
(iii) 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.
(iv) The Company follows an active asset management model for the hotels operated by third parties, pursuant to which it closely monitors, and exercise regular oversight over, the performance of the hotel properties.
Objects of the Chalet Hotels Limited IPO:
Chalet Hotels Limited IPOare: The Offer for Sale Fresh Issue 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 Size:||1500 Cr.|
Promoters And Management:
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Recommendation on Chalet Hotels Limited IPO: