FORM 10-QSB
                    SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

          ( X ) Quarterly Report Under Section 13 or 15(d) of
                The Securities Exchange Act of 1934

                For the Quarterly period Ended: October 31, 1999.
                                   OR
          (  )  Transition Report Under Section 13 or 15(d)
                The Securities Exchange Act of 1934

          Commission File Number O-2825

                            SWISS CHALET, INC.
          (Exact name of Registrant as specified in its charter)

          COMMONWEALTH OF PUERTO RICO          66-020-0307
          (State or other jurisdiction of    (I.R.S. Employer
          Incorporation or Organization)      Identification No.)

                            105 De Diego Avenue
                       Santurce, Puerto Rico  00911
           (Address of principal executive offices)   (Zip Code)

                               (787)721-1200
           (Registrant's telephone number, including area code)

                                 Unchanged
(Former name, former address and former fiscal year, if changed since last
report)

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file requirements for the past 90 days.

Yes__X___ No ______

Indicate by check mark whether the Registrant has filed all documents and
reports required to be filed by Sections 12,13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a
plan confirmed by a court.

Yes__X___ No______

Indicate the number of shares outstanding of each of the issuer's classes
of Common Stock as of the latest practical date :

Number of shares of Common Stock outstanding at November 22,1999
: 1,401,162







                       PART I. FINANCIAL INFORMATION


ITEM 1. FINANCIAL INFORMATION



                            SWISS CHALET, INC.
                      CONDENSED STATEMENTS OF INCOME
              FOR THE SIX MONTHS ENDED OCTOBER 1999 AND 1998

                           (UNAUDITED) - NOTE A


                       SIX MONTHS ENDED         THREE MONTHS ENDED
                          OCTOBER 31                 OCTOBER 31
                     1999         1998         1999         1998
                    _____________________    _______________________

Net Sales and       $3,047,177    $2,218,980  $1,477,881   $1,199,796
Other Income


COST AND EXPENSES

Cost of Sales           52,999        35,122      26,605      17,778

Operating Expenses   1,936,797     1,754,703     964,720     867,343
and other deductions

Interest Expense          -             -            -           -

NET INCOME          $1,057,381       429,155     486,556     314,675



Weighted Average     1,401,162     1,401,162   1,401,162    1,401,162
Number of Common
Shares Outstanding

NET INCOME PER SHARE     0.75c         0.31c       0.35c        0.22c









                                    -1-



                            SWISS CHALET, INC.
                          CONDENSED BALANCE SHEET
                             OCTOBER 31, 1999
                           (UNAUDITED) - NOTE A

                                                  OCTOBER 31
                                                    1999
                                                  __________
ASSETS


CURRENT ASSETS
     Cash and Cash equivalents                    $3,964,121
     Securities held to maturity
     Accounts Receivable, Net                        319,139
     Inventories                                      39,235
     Other Current Assets                             59,223
                                                  __________
TOTAL CURRENT ASSETS                              $4,381,718

INVESTMENT IN CONDOMINIUM AND LAND
PROPERTY, PLANT AND EQUIPMENT, Net                 3,463,076

OTHER ASSETS                                         125,246
                                                  __________
TOTAL ASSETS                                      $7,970,040
                                                  __________

LIABILITIES AND SHAREHOLDER'S EQUITY


CURRENT LIABILITIES

     Accounts Payable and Accrued Expenses        $  580,869
     Dividends Payable                               128,509
                                                  __________
TOTAL CURRENT LIABILITIES                         $  709,378

Deferred Compensation Liability                      121,500

SHAREHOLDER'S EQUITY,

     Common Stock at stated value                 $  700,581
     Additional paid in capital                       24,069
     Retained Earnings                             6,414,512
                                                  __________
                                                  $7,139,162
                                                  __________
TOTAL LIABILITIES                                 $7,970,040
                                                  __________

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                            SWISS CHALET, INC.

               CONDENSED STATEMENTS OF CHANGES IN CASH FLOWS

            FOR THE SIX MONTHS ENDED OCTOBER 31, 1999 AND 1998

                           (UNAUDITED) - NOTE A



                                                 SIX MONTHS ENDED
                                                   OCTOBER 31
                                             1999             1998

Cash Flow from Operations :

     Net Income                        $ 1,057,381     $    429,155
     Adjustments (net)                      64,790       (  201,928)

                                        __________         _________
     Net Cash from operations           $1,122,171       $  227,227



Cash Flow from Investing activities        341,961          628,957

Cash Flow from Financing activities      ( 968,296)       ( 968,329)
                                         __________       _________


Increase/(Decrease) in Cash Flow        $  495,836       $( 112.145)


Cash and Cash equivalents - beginning    3,468,285        1,637,807

                                        __________        _________
Cash and Cash equivalents - ending      $3,964,121       $1,525,662















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                            SWISS CHALET, INC.
            NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)



NOTE A  - BASIS OF PRESENTATION

     The accompanying unaudited Condensed Financial Statements have been
prepared in accordance with the instructions to Form 10-QSB and, therefore,
do not include all information and footnotes necessary for a fair
presentation of financial position in conformity with generally accepted
accounting principles. The unaudited Condensed Financial Statements contain
all adjustments (consisting only of normal recurring adjustments) which
are, in the opinion of Management, necessary to a fair statement of the
results for the period presented. The interim results are not necessarily
indicative of the results which may be expected for the full year. The
subject Condensed Financial Statements should be read in conjunction with
the summary of significant accounting policies set forth in Note 1 to the
Financial Statements included in the Company's Annual Report to
Shareholders for the year ended April 30, 1999.

     Depreciation of the original building is spread over a 50 year life
while equipment is depreciated over useful lives ranging from 5 to 10 years
depending on its type.


NOTE B  - PROVISIONS FOR INCOME TAX


     Local Income Tax is not provided for until the year end. however, if
such provision had been made it would have amounted to less than $30,000.00
for the three month period.

















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PART I


                            SWISS CHALET, INC.



ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
          CONDITION AND RESULTS OF OPERATIONS



     The following is Management's discussion and analysis of certain
significant factors which have affected the Company's earnings during the
periods included in the accompanying Condensed Statements of Income.

     A summary of the period to period changes in the principal items
included in the Condensed Statement of Income is shown below:





                              SIX MONTHS ENDED    THREE MONTHS ENDED
                                 OCTOBER 31          OCTOBER 31

                                 INCREASE            INCREASE
                                (DECREASE)   %      (DECREASE)   %
                              _______________________________________

Net Sales & Other Income      $ 828,197     37.3    $ 278,085   23.1)

Cost of Sales                    17,877     50.9        8,827   49.6

Operation Expenses and          182,094     10.4       97,377   11.2
Other Deductions

Interest                            -        N/A          -     N/A

Net Income                      628,226    146.4      171,881   54.6











                                    -5-



                            SWISS CHALET, INC.

     The comparative table of occupancies and average rates is shown below
for the six month period.

                         Occupancy                   Average Rate
                    1999           1998          1999          1998

     May            80%            62%           $100.13    $88.09
     June           87%            57%             97.29     91.13
     July           89%            57%             95.71     87.42
     Aug            91%            67%             98.24     85.38
     Sept           73%            53%             97.87     85.61
     Oct            75%            97%             96.91     88.10

Average 6 months    82%            66%            $97.67    $87.63

           The effects of Hurricane Georges in September 1998 continue to
dominate the financial comparisons and results of the Company. The highly
competitive market that had existed prior to the hurricane was replaced by
one in which some direct competitors closed ( and in some cases have not
reopened) and pressure on rates disappeared. As the competitive situation
is now returning to normal and the influx of hurricane relief personnel
will not be repeated this year the best we can hope for in the second half
of the year is not to give back too much of the substantial gains we have
made in our profits. Expenses have remained well controlled and we are
confident that we can maintain a high level of profitability through the
upcoming winter season.


     The Company's primary source of working capital is from funds provided
from operations. Working capital increased over the six month period by
$1,148,145 and, as mentioned above, all long term debt has been repaid. The
Company believes that it's excess cash from operations will be sufficient
to finance it's long and short term capital needs including the payment of
accrued dividends.

      The Company's Accounting, Property Management System, Electronic
Keys, and stock registration systems are Y2K compliant and we have almost
completed replacement of our telephone equipment. We are on-line with the
Best Western reservations system which is, to our understanding, fully
compliant. Mechanical equipment is still being evaluated but we do not
consider our exposure to be material.

PART II

6.   EXHIBITS AND REPORTS ON FORM 8K

     NONE


                                    -6-






                            SWISS CHALET, INC.

                                SIGNATURES



     Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its be half by
the undersigned thereunto duly authorized.




                                   SWISS CHALET, INC.







DATE :11/22/99                     BY:__________________________
                                   PETER D. SOMECH
                                   Treasurer, Director and
                                   Principal Financial Officer























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