ITC Hotels Ltd board approved acquisition of 100% share capital of Zuri Hotels and Resorts Pvt Ltd for an undisclosed cash consideration.
The target owns 'The Zuri Kumarakom' luxury resort in Kerala with 72 keys, generating ~₹22 crore annual turnover.
Acquisition aims to strengthen ITC's luxury portfolio in a high-growth leisure destination through an established property.
The share purchase is expected to be completed in approximately 7 working days, requiring no regulatory approvals.