BOM:542399

Nomura Adjusts Chalet Hotels' Price Target to INR890 from INR860, Keeps at Neutral

Chalet Hotels Completes 100% Stake Acquisition in Seasons Hotels

Chalet Hotels (NSE:CHALET, BOM:542399) completed the acquisition of 100% equity stake in Seasons Hotels on Tuesday, according to a Tuesday filing on Indian bourses.Shares of Chalet Hotels were up 2% in Wednesday's trade.Seasons Hotels has now become a wholly-owned subsidiary of the company, it added.

Chalet Hotels to Acquire Hospitality Company Seasons Hotels

Chalet Hotels (NSE:CHALET, BOM:542399) has agreed to acquire hospitality company Seasons Hotels for 1.71 billion Indian rupees, according to a Friday filing to the Indian stock exchanges.Seasons Hotels owns a 144-room hotel named Inder Residency Resort & Spa, Udaipur, in the state of Rajasthan, IndiaThe company plans to upgrade the property to a premium lifestyle destination and remain non-operative during this period. Chalet will also evaluate the possibility of expanding the property and adding additional rooms.The transaction is expected to be completed by May 15.The company's shares were up over 1% in recent trade.

Nomura Starts Chalet Hotels at Neutral with INR860 Price Target

Chalet Hotels (NSE:CHALET, BOM:542399) has an average rating of buy and mean price target of 1,024.05 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)