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ITC Hotels Limited M&A Activity 2026
61182_rns_2026-05-15_5813e639-1d60-4889-a4e9-b7de1c180ebc.pdf
M&A Activity
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ITC Hotels Limited
Corporate Office
ITC Green Centre
10 Institutional Area, Sector 32
Gurugram-122 001, Haryana, India
Tel.: 91 124 417 1717
Website: www.itchotels.com
15th May, 2026
The Manager
Listing Department
National Stock Exchange of India Ltd.
Exchange Plaza
Plot No. C-1, G Block
Bandra-Kurla Complex
Bandra (East)
Mumbai 400 051
The General Manager
Dept. of Corporate Services
BSE Ltd.
P. J. Towers
Dalal Street
Mumbai 400 001
Dear Sirs,
Acquisition - Media Statement and Presentation
Further to our letter dated 15th May, 2026 forwarding the disclosure for 'Acquisition of Shares - Zuri Hotels and Resorts Private Limited', we now enclose a copy of the Media Statement issued by the Company, and a Presentation on the same.
Yours faithfully
ITC Hotels Limited
DIWAKER Dinesh
DIWAKER Dinesh
Company Secretary
Encl.: As above
ITC HOTELS LIMITED
Registered Office: Virginia House, 37 J. L. Nehru Road, Kolkata - 700 071, West Bengal, India
Tel: 91 33 2288 9371, Email: [email protected]
Corporate Identity Number: L55101WB2023PLC263914
ITC Hotels Limited
Corporate Office
ITC Green Centre
10 Institutional Area, Sector 32
Gurugram-122 001, Haryana, India
Tel.: 91 124 417 1717
Website: www.itchotels.com
Media Statement
15th May 2026
ITC HOTELS SET TO ACQUIRE A LUXURY RESORT ALONG THE ICONIC BACKWATERS OF KUMARAKOM, KERALA
ITC Hotels Limited has today signed definitive agreements for acquisition of a luxury resort in Kumarakom, Kerala - The Zuri Kumarakom, Kerala Resort & Spa ('Resort'). The Company will acquire 100% stake in Zuri Hotels & Resorts Private Limited (ZHRPL), which owns the Resort, at an Enterprise Value of Rs. 205 crores, on a debt-free and cash-free basis, subject to customary adjustments as per the definitive agreements. The acquisition is expected to be consummated over the next few days and will enable ITC Hotels to expand its luxury portfolio in a strategic, high-growth leisure destination - establishing the company's first owned resort in Kerala.
The Resort is spread over 18 acres of lush landscaped greenery, along the serene banks of the Vembanad Lake, offering panoramic views and a private waterfront frontage. Located approximately 70 km from Cochin, it serves as an accessible luxury hub for both international and domestic travellers. The 72 keys Resort, includes 38 villas and cottages, which are designed around a sprawling 5-acre man-made lagoon that mirrors the tranquillity of Kerala's backwaters. The property provides a seamless blend of traditional architecture and contemporary luxury with multiple dining venues, event spaces and about 20,000 sq.ft. of spa and wellness facilities.
Speaking on the occasion, 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. Kerala's rich cultural heritage and breathtaking landscapes have always resonated with tourists, and we are thrilled to bring our luxury offerings to this serene backwater sanctuary. 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."
Post extensive renovation, the Resort will be rebranded as a luxury resort under the "ITC Hotels" brand. Inspired by ITC Hotels' core philosophy of "Rooted in the Soil", the Resort will draw inspiration from the region's traditional architectural designs - integrating traditional woodcraft and stone-work that celebrate the authentic spirit and craftsmanship of Kerala. By integrating ITC Hotels' institutional strengths - including signature culinary experiences, best-in-class guest services, Club ITC loyalty program and robust distribution network, the Resort will unlock branded value uplift and establish itself as a premier luxury destination for leisure and high-profile MICE. Stabilized Revenue of the Resort is expected to be close to 3x of current levels and margin accretive to ITC Hotels' portfolio.
Kumarakom is known as the 'Crown Jewel' of Kerala and offers an unparalleled blend of ecological wonder and luxurious heritage. This enchanting emerald peninsula invites travellers to drift along the tranquil backwaters, embrace authentic Ayurvedic rejuvenation and immerse themselves in a lush green landscape, which define the very essence of Kerala - God's Own Country.
(Richa Sharma)
Head-Corporate Communications
ITC HOTELS LIMITED
Registered Office: ITC Hotels Limited, Virginia House, 37 J. L. Nehru Road, Kolkata - 700 071, West Bengal, India
Tel: 91 33 2288 9371. Corporate Identity Number: L55101WB2023PLC263914
ITC HOTELS LIMITED
15th May, 2026
Acquisition of
The Zuri Kumarakom, Kerala Resort & Spa
Disclaimer
2
This presentation contains certain forward-looking statements including those describing the Company's strategies, strategic direction, objectives, future prospects, estimates etc. Investors are cautioned that "forward looking statements" are based on certain assumptions of future events over which the Company exercises no control. Therefore there can be no guarantee as to their accuracy and readers are advised not to place any undue reliance on these forward looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. These statements involve a number of risks, uncertainties and other factors that could cause actual results or positions to differ materially from those that may be projected or implied by these forward looking statements. Such risks and uncertainties include, but are not limited to: growth, competition, acquisitions, domestic and international economic conditions affecting demand, supply and price conditions, changes in Government regulations, tax regimes and other statutes, and the ability to attract and retain high quality human resource.
Transaction Highlights
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$\triangleright$ Acquisition of 100% stake in Zuri Hotels & Resorts Pvt Ltd (the entity which owns the Resort)
Interprise Value of Rs. 205 crores, on a debt-free and cash-free basis subject to customary adjustments as per the definitive agreements
Transaction expected to close over next few days
18 Acres of Land
Lush Landscaped Greenery
72 Villas, Cottages and Rooms
Operational with scope for Capacity Expansion
Panoramic Views
Vembanad Lake & Private Waterfront
F&B Offering
All Day Dining, Bar, Speciality Restaurant
13,500+ sq.ft.
Banqueting Capacity (including indoor & outdoor)
20,000 sq.ft.
Spa and Wellness space
Located 70 km from Cochin, the Resort serves as an accessible luxury hub for international & domestic travelers
Acquisition Rationale
- Accelerating expansion in a strategic, high-potential leisure destination through an established luxury property
- Value-accretive acquisition led by ARR expansion in an inventory-scarce, luxury market
- Unlocking hotel's true potential through brand-led experience and premium service offerings
- ITC Hotels Brand & Best Practices | Culinary excellence | Club ITC | Robust Distribution Network
- Diversifies Revenue across Leisure, Wellness, Weddings & MICE for both national and international guests
Unique Luxury Backwaters Experience
Kumarakom: The Crown Jewel of Kerala
Development Focus
To be developed as an 'Iconic Tourist Site' under Swadesh Darshan 2.0
Key Attractions
Backwaters, Vembanad Lake, Bird Sanctuary
Close Proximity
Cochin Airport, Munnar, Vagamon
Retreats
Staycations, Corporate Off-sites, Destination Weddings
Unlocking Potential
- Resort to be renovated, upgraded and rebranded as “ITC Hotels”
- Unlock brand-led value uplift through a seamless blend of
- ITC Hotels’ operational excellence and institutional strengths
- Resort’s superior ambience, strong infrastructure and established presence
- Luxury positioning and market leading yields, post renovation
- Stabilized Revenue of the Resort expected to be close to 3x of current levels and margin accretive to ITC Hotels’ portfolio
ITC HOTELS LIMITED