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Shares of Chalet Hotels on Tuesday jumped nearly 13 per cent after the company extended its collaboration with global hospitality major Marriott International Inc with five new agreements.
The scrip climbed 11.22 per cent to ₹395 – its 52-week high – on the BSE.
On the NSE, it zoomed 12.90 per cent to a one-year high of ₹402.
Under the pacts, the company would build hotels and extend contracts across brands such as ‘W’, ‘Westin’ and ‘Marriott Executive Apartment’ in Hyderabad and Mumbai, Chalet Hotels said in a filing to the BSE.
“We are happy to end 2019 on a high note. These agreements fortify our two-decade long relationship with Marriott,” Chalet Hotels MD and CEO Sanjay Sethi said.
Chalet Hotels Ltd (CHL) is an owner, developer and asset manager of high-end hotels in key metro cities in India.
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