ITC Hotels Acquires 100% Stake in Zuri Hotels and Resorts Private Limited
ITC Hotels Limited announced the execution of a Share Purchase Agreement, following approval by its Board of Directors on May 15, 2026, to acquire 100% of the share capital of Zuri Hotels and Resorts Private Limited (ZHRPL).The acquisition positions ITC Hotels to strengthen its luxury portfolio by securing a stake in a strategically important, high-growth leisure destination. The acquired resort property is slated for renovation and rebranding as a premier luxury destination, aiming to unlock brand-led value and establish itself as a leading destination for leisure travelers and high-profile MICE (Meetings, Incentives, and Conferences) clientele.
Operational and Strategic Scope
ZHRPL is a private limited company incorporated on April 21, 2012, and is based in Goa, India. The entity operates 'The Zuri Kumarakom, Kerala Resort & Spa,' which covers an area of 18 acres. The resort facility includes 72 keys, two restaurants, a bar, and an ayurvedic spa.The transaction was determined to be entirely cash-based. The acquisition of the full share capital of ZHRPL involves an enterprise value of ₹ 205 crores on a cash-free, debt-free basis. The consideration provided for the acquisition of 100% of the share capital, alongside debt repayment and customary adjustments, does not exceed ₹ 175 crores.
Financial Overview of ZHRPL
ITC Hotels acquired detailed financial data for ZHRPL, which has been operational in India. The company's turnover for the last three years was recorded as follows:| Year | Turnover (₹ crores) |
|---|---|
| 2023-24 | 21.58 |
| 2024-25 | 21.97 |
| 2025-26 | 21.91 |
The shares of Zuri Hotels and Resorts Private Limited are acquired through an agreement that envisages 100% of the share capital.
ITC Hotels anticipates the completion of the share acquisition within approximately seven working days.
ITCHOTELS Stock Price Movement
Today, ITC Hotels Limited shares edged higher to settle at ₹155.48, climbing 0.90% in post-market trading. The stock traded with a volume of 3.92 million shares today, marking a range between a low of ₹154.60 and a high of ₹158.67.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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