ITC Hotels Limited — JV/Acquisition, 15-05-2026: Acquisition

ITC Hotels has acquired Zuri Hotels and Resorts Private Limited, taking a 100% stake. The deal is valued at an enterprise value of ₹205 Cr, with consideration up to ₹175 Cr for the share capital. This strategic move brings 'The Zuri Kumarakom, Kerala Resort & Spa' (72 keys) into ITC's luxury portfolio. The acquisition boosts ITC's presence in Kerala, a high-growth leisure destination. Post-renovation, the resort will be rebranded, leveraging ITC's strengths to become a premier luxury and MICE destination, enhancing its hospitality footprint.