K Raheja Group-promoted Chalet Hotels on Wednesday announced the launch of Athiva Hotels & Resorts, a premium lifestyle hospitality brand competing against Taj, Marriott and Hyatt properties.
The new brand will debut, on October 16, with the opening of a rebranded property in Khandala featuring 147 rooms. Bought in 2023 by Chalet, the Khandala property was previously known as The Dukes Retreat and was under operation for five decades.
This will be followed by the opening of the rebranded Four Points by Sheraton in Vashi in January. This property is also owned by Chalet Hotels.
The rebranded property, Resort at Aksa Beach (Mumbai), along with two greenfield properties in Goa (at Varca and Bambolim) and one greenfield property at Thiruvananthapuram will be added to its inventory in due course. A total of 900 keys across these six properties will entail an investment of Rs 1,500 crore, a top official of Chalet Hotels said.
While the resort properties can be priced at Rs 12,000-14,000 per night, the business hotels will have a tariff of ranging from Rs 8,000-9,000 to Rs 16,000-17,000 per night, depending on the location. Athiva will be positioned as an upscale and upper upscale brand.
Sanjay Sethi, MD and CEO, Chalet Hotels, said, “We are starting with these six properties but the team is working hard to look for further opportunities. A few years down the line, we will look at an asset light strategy for the brand.”
The hotel portfolio will be expanded using a mix of debt and equity. For the stated expansion to six properties, the company will make use of its internal accruals. In the next three years, the company plans to double its capacity to around 1,800 rooms.
Chalet Hotels comprises 11 operating hotels and resorts with 3,351 keys across global hospitality brands including JW Marriott, The Westin, and Novotel (licensed). It has around 1,200 rooms under development (including those under Athiva).
