Acquisitions19 May 2026, 07:31 pm
ITC Hotels Acquires Zuri Hotels for ₹205 Cr
AI Summary
ITC Hotels Ltd has acquired 100% of the share capital of Zuri Hotels and Resorts Private Limited (ZHRPL) for an enterprise value of ₹205 crores on a cash-free, debt-free basis. The consideration includes ₹175 crores for the share acquisition, debt repayment, and adjustments. ZHRPL, now a wholly-owned subsidiary, owns and operates 'The Zuri Kumarakom, Kerala Resort & Spa'. The acquisition aims to strengthen ITC Hotels' luxury portfolio in a high-growth leisure destination. Post renovation, the resort will be rebranded as a luxury resort.
Key Highlights
- ITC Hotels acquires 100% stake in Zuri Hotels and Resorts for ₹205 Cr.
- The acquisition will strengthen ITC's luxury portfolio in a strategic leisure destination.
- Zuri Hotels' Kumarakom resort will be rebranded as a luxury resort after renovation.
- The deal includes ₹175 crores for share acquisition, debt repayment, and adjustments.
- Zuri Hotels' turnover for FY26 was ₹21.91 crores.