By Malavika Kaur Makol
Chalet in Mumbai Hotels Ltd., which owns, develops and manages high-end hotels in major Indian cities, is looking for distressed hospitality assets as the number of Covid-19 Infections allow some parts of the country to relax restrictions on movement.
“We definitely want to expand into the leisure part of the business. We don’t have any leisure activities, ”said Sanjay Sethi, Chief Executive Officer of Chalet Hotels, in an interview with Bloomberg Television on Tuesday. “Goa could potentially be a target market for us. Maybe something in Delhi and a couple of cities where we are currently not present. ”
The hotel chain currently has properties across Mumbai, Pune, Hyderabad and Bengaluru and like the rest Hospitality, prepares for a revival as India has been recovering in recent months from a deadly second wave of viruses that triggered local lockdowns and halted business and leisure travel.
“We’ve had roughly five quarters since March 2020,” said Sethi, adding that his company managed to quickly recover from the first wave last year. “The second wave reached us in March of this year. It took the wind out of our ears for a few months. We seem to be recovering from that now. ”
Chalet has several options to fund its growth if necessary, according to Sethi. “Hopefully with the now strong vaccination campaign we should be out of the woods in the next few quarters.
