Shares of Chalet Hotels Ltd rose 1.75% to touch a day’s high of Rs 903.05 on 12th December. This surge followed the company’s announcement of major leadership changes and plans to expand its hospitality portfolio. The Board has approved the appointment of Shwetank Singh—currently Executive Director—as the company’s next Managing Director and Chief Executive Officer. His appointment is effective 1st February, 2026, for a three-year term.

Singh, an IIT graduate with an MBA from FMS, brings 26 years of experience in hospitality and strategic roles. Before joining Chalet in August 2023 as Chief Growth and Strategy Officer, he served as Head of Business at Golden Sands LLC in Dubai.

The Board has also approved the acquisition of a company that owns a 150-room resort in Udaipur for Rs 171 crore. This is subject to due diligence and approvals. Chalet said more details will be shared once the final agreements are completed.

The company further announced that outgoing MD & CEO Dr. Sanjay Sethi will move into the role of Non-Independent, Non-Executive Director. Dr Sethi, who has nearly 37 years of hospitality experience and founded Berggruen Hotels, will complete his current term in January 2026.

At 3:30 PM, shares of Chalet Hotels ended 1.35% higher at Rs 897.50 on NSE.

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