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Following the completion of the transaction on May 19, 2026, Zuri Hotels and Resorts has become a wholly-owned subsidiary of ITC Hotels.
The acquisition, with an enterprise value of ₹205 crore on a cash-free, debt-free basis, includes repayment of debts and other customary adjustments.
ITC Hotels said the transaction will help strengthen its luxury portfolio in a strategic, high-growth leisure destination through an established luxury property.
The company added that after renovation, the resort will be rebranded as a luxury resort and is expected to position itself as a premier destination for leisure and high-profile MICE activities by leveraging ITC Hotels’ institutional strengths.
Earlier on May 15, as per a press release on NSE, Anil Chadha, Managing Director of ITC Hotels Limited said, “The acquisition of this exclusive property in Kumarakom marks a strategic cornerstone in our journey to expand ITC Hotels’ footprint into one of India’s most sought-after leisure destinations."
He added, " By integrating this iconic resort into our portfolio, we aim to elevate the guest experience through our globally recognized culinary excellence and world-class Ayurvedic wellness offerings. This move reinforces our commitment to deliver authentic experiences that define the future of Indian hospitality.”
Shares of ITC Hotels closed at ₹155.84, up ₹2.40 or 1.56% on NSE.
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