Chalet Hotels Announces First Ritz-Carlton Launch in Hyderabad

Chalet Hotels is an Indian hospitality giant which plans to launch its first Ritz-Carlton hotel in India with flagship opening in Hyderabad.

This is the strategic move of the company into the ultra-luxury hotel segment and also consolidating its presence in one of its important markets. The board of the company has endorsed the construction of a 330-room upscale hotel in Madhapur, Hyderabad, but with 36,255 square feet of commercial or retail facility.

Key Highlights

• Chalet Hotels to debut its first Ritz-Carlton in Hyderabad.
• The 330-room hotel will cost Rs 930–940 crore, with commercial space.
• Project completion is expected within 36 months, boosting Hyderabad’s hospitality scene.

The project will be worked out on the basis of a warm-shell lease agreement with Mindspace so that the project will be executed in a shorter period and capital will be deployed optimally.

The overall cost of the project has been estimated as Rs 930-940 crore with Chalet incurring 630 crore of this amount, which is partially backed by internal accruals and debt. Mindspace will put in around 300 crore in the development.

Also Read: Assetz Property Group Expands Portfolio with Mizumi Reserve Phase One

The Ritz-Carlton Hyderabad, which is planned to be completed in 36 months, will be the third hotel of Chalet in the city. The partnership with Marriott international would allow Chalet to penetrate the ultra-luxury segment under favorable conditions.

The project will offer high rental returns and solid bottom-line returns due to good market fundamentals and a brand-challenged global brand, bringing Hyderabad to the forefront as an emerging destination with high-end hospitality.