- ITC Hotels acquired 100% shares of Zuri Hotels for up to Rs 175 crore
- The acquisition values Zuri Hotels at Rs 205 crore on a debt-free basis
- Zuri Hotels becomes a wholly-owned subsidiary of ITC Hotels from May 19, 2026
ITC Hotels has acquired Zuri Hotels and Resorts Private Limited for a consideration of up to Rs 175 crore, the company said in an exchange filing on Tuesday, May 19.
The hotel chain has purchased 100% shareholding in Zuri Hotels, comprising 1,27,91,223 equity shares of Rs 10 per share.
The acquisition has been conducted with an enterprise value of Rs 205 crore on a cash-free, debt-free basis, includes repayment of debts and other customary adjustments, while the equity consideration for acquiring 100% stake is up to Rs 175 crore.
According to an exchange filing by ITC Hotel, the transaction has an "enterprise value of Rs 205 crores on a cash-free, debt-free basis, comprising the consideration not exceeding Rs175 crores for acquisition of 100% of share capital"
After the completion of the transaction on Tuesday, Zuri Hotels and Resorts has become a wholly-owned subsidiary of ITC Hotels.
The exchange filing read, "the Company has completed the acquisition of 100% of the share capital of ZHRPL (Zuri Hotels and Resorts Private Limited) today i.e., on 19th May, 2026."
Through this acquisition, ITC Hotels aims to strengthen its luxury portfolio in a strategic, high-growth leisure destination, through an established luxury property. Post renovation, the Resort will be rebranded as a luxury resort. The resort is expected to unlock brand-led value uplift and establish itself as a premier luxury destination for leisure and high-profile meetings, conferences and related events.
About Zuri Hotels and Resorts
Zuri Hotels and Resorts is a private limited company having its registered office in Goa, India. It is engaged in the business of operating a resort named, ‘The Zuri Kumarakom, Kerala Resort & Spa' with 72 keys, 2 restaurants, a bar and an ayurvedic spa, spread over 18 acres of land. In terms of financials, the company had an annual turnover of Rs 21.91 crore in the fiscal year 2025-26.
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