Acquisitions15 May 2026, 04:15 pm
ITC Hotels to Acquire Zuri Kumarakom for ₹205 Cr
AI Summary
ITC Hotels Ltd has signed definitive agreements to acquire 100% stake in Zuri Hotels & Resorts Private Limited (ZHRPL), which owns The Zuri Kumarakom, Kerala Resort & Spa, at an enterprise value of ₹205 crores on a debt-free and cash-free basis. The acquisition, expected to be completed soon, will mark ITC Hotels' entry into Kerala with its first owned resort. The resort spans 18 acres along Vembanad Lake and features 72 keys, including 38 villas and cottages. Post-renovation, the resort will be rebranded under the ITC Hotels brand.
Key Highlights
- ITC Hotels to acquire Zuri Kumarakom, Kerala Resort & Spa for ₹205 Cr.
- The acquisition will be on a debt-free and cash-free basis.
- The resort has 72 keys, including 38 villas and cottages.
- Post-renovation, the resort will be rebranded under the ITC Hotels brand.
- The acquisition marks ITC Hotels' first owned resort in Kerala.
Price Impact
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