Chalet Hotels Limited (CHL) announced the execution of definitive agreements for the acquisition of 'COURTYARD BY MARRIOTT ARAvali Resort, NCR (CYMA), a 158-room resort. The resort is spread over 14 acres of land, elevating the property's potential for enhanced offerings. Courtyard by Marriott Aravali Resort, NCR.

CHL has on February 29, 2024 executed the definitive agreement for admission into the partnership viz. 'Ayushi and Poonam Estates LLP', owner of CYMA. The Enterprise Value for the transaction is at INR 3,150 MN (to be adjusted for cash on books).

CHL will be concluding the formalities shortly. Hotelivate was the transaction advisor for the sellers. Since its commencement in June 2022, the resort has been the preferred choice for leisure travelers, MICE and destination weddings.

Strategically located within 1.5 hrs. from New Delhi, Gurgaon and Noida, the resort boasts of its easy accessibility to Indira Gandhi International Airport New Delhi. The property reported an ADR of INR 13,500 for the YTD December FY24 with an occupancy of 44%.

CYMA is equipped with an all-day dining restaurant, a bar & lounge, a pool bar, and a pan-Asian restaurant, providing guests with a delightful culinary experience. It features an array of recreational facilities such as a gym, spa, pool and a dedicated kids' play area. Adventure enthusiasts will enjoy the on-premises adventure park offerings like zipline, quad bike, automated paintball arena, artificial climbing, horse riding, pal cart and much more.