New Delhi, Sep 6 (PTI) Chalet Hotels Ltd aims to have around 5,500 hotel keys by FY30 as it expands beyond its traditional asset-ownership model, the hospitality player’s MD and CEO Shwetank Singh said.
The expansion marks a shift in Chalet’s business model, with the company now pursuing a combination of third-party operated hotels, franchise properties and hotels under its own Athiva brand.
The Athiva brand accounts for 1,200-1,300 keys of the pipeline.
“So, the way we look at our business is that we have graduated from a pure asset-ownership model to having all three models in play. We will continue to have properties such as the Ritz-Carlton that are operated by third parties, franchise properties like Taj, and properties under our own Athiva brand,” Singh told PTI in an interview.
The company’s upcoming portfolio includes a 380-room at Delhi Airport, with approximately 70 rooms expected to open by the end of this financial year.
Ritz-Carlton Hyderabad, Hyatt Regency Airoli and Udaipur hotel are expected to come online in FY29, and the recently announced Pune Yerawada project is targeted for FY31.
The company, which currently has approximately 3,389 operational keys, has announced a pipeline of close to 2,300 keys, taking its total portfolio to around 5,500 keys.
“We currently have approximately 3,389 operational keys, with an announced pipeline of close to 2,300 keys, taking the total to approximately 5,500 keys,” the Chalet Hotels MD & CEO shared.
Athiva, which was launched by Chalet in 2025, had an initial pipeline of around 900 keys. The company has now added approximately 380 keys through recently announced projects in Pune and Hyderabad, taking its total pipeline under the brand to around 1,200-1,300 keys.
Singh said the company was not looking to launch another hotel brand and would remain focused on establishing Athiva.
“We are not conceptualising any other brands. Our focus right now is entirely on Athiva,” he clarified.
also has around 2.4 million sq ft of commercial space currently in operation and another 9,00,000 sq ft under construction. The overall portfolio is expected to reach around 3.2-3.3 million sq ft of commercial space.
Despite the expansion in commercial real estate, hospitality will remain the company’s mainstay, Singh said.
“We are fundamentally a hospitality-first company, and that is where we intend to remain focused.”
Chalet is also evaluating additional greenfield and brownfield opportunities beyond its announced pipeline, but has not set a separate expansion target.
“Our announced pipeline remains our announced pipeline, and we will continue to focus on that for now. However, as an active company, we are constantly evaluating new opportunities, both greenfield and brownfield. We have multiple conversations underway at any given point,” Singh said.
On its expansion, Singh said the company was well positioned to execute its announced projects without substantially increasing debt.
“We are well funded on the balance sheet and believe we can execute our expansion plans without substantially increasing our debt,” he observed.