Chalet Hotels board has formally approved a strategic acquisition and key leadership appointments during its meeting held on December 11, 2025, marking significant developments in the company's expansion and management structure.

Board Meeting Outcomes

The Board of Directors convened from 2:00 p.m. to 2:25 p.m. on December 11, 2025, and approved several critical business decisions under Regulations 30 and 52 of the SEBI Listing Regulations.

Udaipur Resort Acquisition Details

The board approved the proposed acquisition of a company owning a resort property in Udaipur, Rajasthan. The property features approximately 150 rooms and will be acquired for ₹171.00 crore, subject to adjustments for net assets and liabilities.

The transaction remains subject to successful completion of due diligence, definitive agreements, and necessary statutory approvals. The company will provide further details once definitive agreements are finalized.

Leadership Appointments Confirmed

The board confirmed two key leadership appointments effective February 1, 2026. Shwetank Singh has been appointed as Managing Director and CEO for a three-year term until January 31, 2029.

Shwetank Singh Profile

Shwetank Singh brings 26 years of experience with B.Tech from IIT and MBA in Finance-Marketing from Faculty of Management Studies (FMS). He previously served as Head of Business with Golden Sands LLC, Dubai, before joining Chalet Hotels in August 2023 as Chief Growth Strategy Officer.

Dr. Sanjay Sethi Profile

Dr. Sanjay Sethi has been appointed as Non-Independent Non-Executive Director, bringing over 37 years of hospitality industry experience. He founded Berggruen Hotels Private Limited in 2006 and previously served as Managing Director and CEO of Chalet Hotels from February 2018 until January 2026. His experience includes a fourteen-year stint with the Taj Group of Hotels and a brief tenure with ITC Limited as Chief Operating Officer for their Hotels Division.

Industry Involvement

Dr. Sethi remains actively involved in industry forums, championing hospitality sector reforms and securing Industry status for Hotels in Maharashtra. He serves as an Executive Committee Member of Hotel Association of India (HAI) and is a member of CII's National Tourism Committee.

Both appointees are not related to any existing Directors, KMPs, or Promoters of the Company and are not debarred from holding directorial positions by SEBI or other authorities.

Chalet Hotels Limited has completed the allotment of 14,000 equity shares to eligible employees under its Employee Stock Option Plan 2022, as approved by the Compensation, Nomination and Remuneration Committee on December 10, 2025.

Share Allotment Details

The company allotted 14,000 fully paid-up equity shares with a face value of ₹10.00 each to eligible employees under the CHL Employee Stock Option Plan 2022. These newly issued shares carry distinctive numbers ranging from 218739433 to 218753432 and rank pari-passu with the existing equity shares of the company.

Revised Share Capital Structure

Following the allotment, Chalet Hotels' paid-up equity share capital has increased from the previous level. The revised capital structure shows a marginal increase in the total number of outstanding shares.

ESOP 2022 Plan Overview

The CHL Employee Stock Option Plan 2022 covers a total of 12,17,831 equity shares, with each stock option convertible into one equity share of face value ₹10.00. The exercise price is determined based on the average closing share price of the last 30 trading days as of the plan's approval date by the Compensation, Nomination and Remuneration Committee on April 20, 2022.

Key ESOP Statistics

Plan Terms and Administration

The ESOP 2022 is designed exclusively for eligible employees as defined under the plan. Vesting of options is subject to continued employment with the company, and the committee may specify additional performance criteria for vesting. The plan is administered by the Compensation, Nomination and Remuneration Committee and complies with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

The diluted earnings per share following this exercise stands at ₹17.00 on a standalone basis and ₹16.35 on a consolidated basis. The company has filed the necessary regulatory disclosures with both the National Stock Exchange of India Limited and BSE Limited in compliance with listing regulations.