The shares of Chalet Hotels jumped more than 4 percent on December 3 after the company announced that it is launching luxury brand 'Athiva Hotels & Resorts'.

The shares of the company rose to Rs 918.80 apiece, the highest level seen by the stock in more than three weeks.

In an exchange filing released in the post-market hours of December 2, Chalet Hotels introduced the new brand which is described as a "new-age premium lifestyle hospitality brand, built on the pillars of joy, wellness and sustainability".
The brand will include 6 hotels with more than 900 rooms. The firm’s debut property under the brand has been built in Khandala. Five more hotels are planned under the brand, which will be built in Navi Mumbai, Aksa Beach in Mumbai, Varca in Goa, Bambolim in Goa and Thiruvananthapuram.