Chalet Hotels CFO Milind Wadekar To Step Down Amid Reorganization

Chalet Hotels Ltd. said its Chief Financial Officer Milind Wadekar will step down from the close of business hours on 30 June amid reorganization of the company’s finance function.

Wadekar, however, will continue as a member of the senior management of the company until 30 September, the Indian hospitality chain, a part of K Raheja Corp Group, said in a stock exchange announcement.

Thereafter, he will move on to a higher role within the K Raheja Corp Group with effect from 1 October, it added.

Chalet Hotels also said Nitin Khanna will assume the role of CFO of the company, effective 1 July.

Khanna is a chartered accountant and a cost & works accountant, with 25 years of experience across various industries, according to the statement. He is currently employed with Inorbit Malls (India) Private Ltd. as CFO, it said.

Chalet Hotels is an owner, developer, asset manager and operator of high-end hotels and a hotel led mixed-use developer across India, according to its website.

The company’s portfolio comprises 10 fully operational hotels representing 3,052 keys, across mainstream and luxury segments, and commercial spaces, representing around 1.2 million square feet in close proximity to the hospitality assets, it said.

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