Mumbai: Chalet Hotels LTD said on Thursday that Shwetank Singh, currently Executive Director and Chief Investment Director, will be taken over as CEO and CEO with effect from 1 February 2026.
“This transition is the result of a careful and cooperating process aimed at maintaining our strategic direction and at the same time fulfills a new perspective and energy,” said Sethi, who led the Chalet by the phase of expansion and diversification.
The company said that the change of management was part of the “well -created succession plan in cooperation with the Board of Directors”.
The company also showed strong performance for the first quarter for FY26, with a net profit of 235% sharply £203.1 crore, from £60.6 crore in the previous period while EBITDA jumped by 150% on £371.1 crore (of £148.3 crore).
Total income during the quarter increased by 146% year -on -year £908.3 Crore, powered by one -time strengthening from its residential segment. Recognition of income from the Koramangala residential project in Bengalur was at £439.1 crore, while the main income from the hospitality increased by 18% to £385.6 crore, with average room rates grow by 17% £12,207, although occupancy dropped slightly to 66% of 70% in the previous period.
Rent and annuity revenues have also more than doubled £73.2 Crore, because Chalet continues to expand its commercial real estate traces. The company currently operates 11 hotels and resorts with 3,351 keys under brands such as JW Marriott, Westin and Novotel and has about 1200 rooms in development.
The key updates of the project during the quarter included the addition of 121 rooms in Marriott Whitefield, Bengaluru and the operationalization of 44 newly reconstructed keys to retreat Dukes in Khandala. The last phase of this project Khandala is on the way to complete and brings an overall inventory to 147 rooms.
The construction projects include Taj at Delhi Airport (scheduled for completion in H1 FY27), Varca Beachfront Resort in Goa (FY28) and the second commercial tower at The Westin Complex (FY27).
(Tagstotranslate) Total income
