ITC to acquire Kumarakom resort for Rs 205 crore

NEW DELHI: ITC Hotels Ltd Friday signed definitive agreements for acquisition of a luxury resort in Kumarakom, Kerala - The Zuri Kumarakom, Kerala Resort & Spa. The company will acquire 100% stake in Zuri Hotels & Resorts Pvt Ltd (ZHRPL), which owns the Resort, at an enterprise value of Rs 205 crore, on a debt-free and cashfree basis.

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, highgrowth leisure destination - establishing the company’s first owned resort in Kerala," ITC Hotels said in a statement.

The resort is spread over 18 acres and is about 70 km from Cochin. The 72 keys property has 38 villas and cottages.
ITC Hotels MD Anil Chadha 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.

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