ITC Hotels Limited has officially acquired 100% of the share capital of Zuri Hotels and Resorts Private Limited (ZHRPL). This strategic move brings the renowned ‘The Zuri Kumarakom, Kerala Resort & Spa’ into the ITC portfolio. The acquisition, finalized on May 19, 2026, is part of a broader plan to strengthen the company’s luxury footprint in high-growth leisure destinations and expand its premium hospitality offerings.
Strategic Expansion in Luxury Hospitality
ITC Hotels Limited has completed the acquisition of ZHRPL, marking a significant step in its growth strategy. The transaction involves a total enterprise value of ₹205 crores on a cash-free, debt-free basis. This investment allows ITC Hotels to add an established, high-value asset to its portfolio, effectively broadening its reach in the leisure and MICE (Meetings, Incentives, Conferences, and Exhibitions) segments.
Asset Details and Future Outlook
The acquired property, ‘The Zuri Kumarakom, Kerala Resort & Spa’, is a premier destination set across 18 acres of land. The resort features 72 keys, two restaurants, a bar, and an ayurvedic spa. Moving forward, ITC Hotels plans to renovate and rebrand the property, utilizing its institutional strengths to unlock significant value and establish the resort as a top-tier destination for luxury travelers.
Financial Context
The acquired entity has demonstrated stable performance over the past three fiscal years, with annual turnover reported at ₹21.91 crores in 2025-26, ₹21.97 crores in 2024-25, and ₹21.58 crores in 2023-24. The acquisition, which involves the transfer of 1,27,91,223 equity shares, has been conducted through a cash-based transaction, solidifying ZHRPL’s position as a wholly-owned subsidiary of ITC Hotels Limited.
Source: BSE
