Chalet hotels surge early morning after news of a deal to develop and operate a hotel at Delhi Airport’s Terminal 3

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By CNBCTV18.com IST (Released)

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The stock gave strong positive returns to investors. In six months, the title gained almost 30% while during the year, it gained more than 52%. In one year, the action has returned 88% to investors.

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To buy to sell Chalet hotels to share

Shares of Chalet Hotels (CHL) soared more than 4% in early morning trading, then slipped on BSE. As of 1:49 p.m., the company’s shares were trading at Rs 332, 0.04% higher than the previous BSE close.
Shares of Chalet Hotels soared in early morning trading as they announced on Friday that the company and its wholly-owned subsidiary, Chalet Airport Hotel (as developer), had signed a license agreement with the Delhi International Airport regarding the construction, financing, management, operation and management of a hotel terminal opposite Terminal 3 at IGI New Delhi Airport (Project).

This deal bodes well for investors as it will allow the company to increase its revenue at a time when the travel and tourism industries are recovering from the pandemic.

This will allow CHL, which operates hotels such as JW Marriott Mumbai Sahar and Four Points by Sheraton Navi Mumbai, to enter the North Indian market.

“We are delighted with our entry into the NCR and North India as part of our stated strategy. We look forward to working with DIAL and top hotel brands to create a renowned asset in New Delhi’s airport district,” said Sanjay Sethi, MD and CEO of Chalet Hotels Limited.

The company reported a net profit of Rs 286 crore in the April-June quarter, marking the company’s best ever first quarter result, buoyed by a strong recovery in business travel.

According to Chalet Hotels, only 56% of outbound travel resumed during the quarter due to the global crisis and the Russian-Ukrainian war.

The stock gave strong positive returns to investors. In six months, the stock has gained almost 30% while in the year so far it has gained more than 52%. In one year, the action has returned 88% to investors.

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