Chalet Hotels Signs Two Long-Term Lease MoUs

Date: August 5, 2026

Board Meeting Outcomes

The Company has entered into two binding Memorandums of Understanding with two SPVs of Mindspace Business Parks REIT for availing premises on long-term lease. The agreements are made pursuant to Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Operational / Strategic Disclosures

Pune Property Details:

• Location: Pune
• Type of Lease Arrangement: Grey Shell (including the structure without façade & high-side MEP)
• Proposed number of rooms: 231
• Proposed Positioning/Brand: Upper Upscale ATHIVA®
• Timeline for capacity addition: FY2030-31
• Investment required (Cost of fit-out): ₹10.8 Million per key

Hyderabad Property Details:

• Location: Hyderabad
• Type of Lease Arrangement: Warm Shell (including the structure, façade and high-side MEP; conversion of existing office building)
• Proposed number of rooms: 150
• Proposed Positioning/Brand: Upper Upscale ATHIVA®
• Timeline for capacity addition: FY2028-29
• Investment required (Cost of fit-out): ₹13.5 Million per key

Financing and Rationale:

• Mode of financing: Combination of internal accruals and debt for both properties
• Rationale: This is in line with the investment and expansion strategy of the Company