Chalet Hotels acquires Udaipur resort, appoints new managing director and CEO

Chalet Hotels Limited's board of directors approved the proposed acquisition of a company owning a resort property in Udaipur, Rajasthan. The acquisition, valued at approximately INR 171 crore (subject to adjustments), involves a resort with around 150 rooms and is contingent on successful due diligence and definitive agreements.

The board also announced key leadership changes, appointing Shwetank Singh as the new managing director and CEO, effective February 1, 2026, for a three-year term. Singh, with 26 years of experience in finance and marketing, previously served as head of business with Golden Sands LLC, Dubai, before joining Chalet Hotels in August 2023 as chief growth & strategy officer.

Concurrently, Dr. Sanjay Sethi, the current managing director and CEO, will transition to a non-independent non-executive director role, also effective February 1, 2026. Dr. Sethi brings over 37 years of hospitality experience.