Acquisition of shares of Zuri Hotels and Resorts Private Limited.
ITCHOTELS · price
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ITC Hotels Ltd has completed the acquisition of 100% share capital of Zuri Hotels and Resorts Private Limited (ZHRPL), making it a wholly owned subsidiary effective 19th May, 2026. The acquisition was done for cash consideration with an enterprise value of ₹205 crores on a cash-free, debt-free basis, with consideration not exceeding ₹175 crores. ZHRPL owns and operates 'The Zuri Kumarakom, Kerala Resort & Spa', a 72-key luxury resort with 2 restaurants, a bar and ayurvedic spa spread over 18 acres in Kerala. The deal is not a related party transaction and requires no regulatory approvals. Post renovation, the resort will be rebranded as a luxury property under ITC Hotels' portfolio.
This acquisition strengthens ITC Hotels' luxury portfolio in the high-growth leisure segment. The deal is expected to unlock brand-led value uplift and establish the resort as a premier luxury destination. For shareholders, this represents ITC Hotels' continued expansion in the hospitality sector through asset acquisition.