ITC Hotels Limited has informed the Exchange about Acquisition of shares of Zuri Hotels and Resorts Private Limited.

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₹156.70

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₹154.60

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AI summary

ITC Hotels Limited has completed acquisition of 100% share capital of Zuri Hotels and Resorts Private Limited (ZHRPL). The enterprise value is ₹205 crores on a cash-free, debt-free basis with consideration not exceeding ₹175 crores. ZHRPL owns 'The Zuri Kumarakom, Kerala Resort & Spa', a 72-key luxury resort with 2 restaurants, a bar and ayurvedic spa on 18 acres of land in Kerala. The acquired entity had turnover of around ₹21.6-22 crores over the last 3 years. Post renovation, the resort will be rebranded as a luxury resort. The transaction is not a related party transaction and was completed on 19th May, 2026.

Likely market impact

This acquisition strengthens ITC Hotels' presence in the luxury leisure segment through an established property. The ₹205 crore deal is expected to unlock brand-led value uplift and expand their portfolio with a premier luxury destination.