2 weeks ago
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ITC Hotels Ltd. said it has signed definitive agreements for acquisition of a luxury edifice successful Kumarakom, Kerala - The Zuri Kumarakom, Kerala Resort & Spa astatine an Enterprise Value of ₹205 crore, connected a debt-free and cash- escaped basis.
The acquisition is expected to beryllium consummated implicit the adjacent fewer days and volition alteration ITC Hotels to grow its luxury portfolio successful a strategic, high- maturation leisure destination - establishing the company’s archetypal owned edifice successful Kerala, the institution said.
Anil Chadha, Managing Director, ITC Hotels Ltdsaid, “The acquisition of this exclusive spot successful Kumarakom marks a strategical cornerstone successful our travel to grow ITC Hotels’ footprint into 1 of India’s astir sought-after leisure destinations.”
“By integrating this iconic edifice into our portfolio, we purpose to elevate the impermanent acquisition done our globally recognized culinary excellence and world-class Ayurvedic wellness offerings. This determination reinforces our committedness to present authentic experiences that specify the aboriginal of Indian hospitality,” helium added.
Post extended renovation, the Resort volition beryllium rebranded arsenic a luxury edifice nether the “ITC Hotels” brand.
