Date: 16th July, 2026
Media Statement Summary
Acquisition Details
ITC Hotels Limited has signed a definitive agreement to acquire a 100% stake in GHK Hospitality and Infrastructures Ltd (GHK), which owns Welcomhotel Ahmedabad. The transaction will be completed at an Enterprise Value of ₹155 crores on a debt-free and cash-free basis, subject to customary adjustments under the definitive agreement. The acquisition is expected to be consummated within the current quarter (Q2/Q3 2026).
Asset Description
The acquired property is a 130-room Upper Upscale business hotel located in Ahmedabad's vibrant commercial hub along Ashram Road, overlooking the Sabarmati Riverfront. The hotel features spacious rooms, 8,500 sq.ft of banqueting spaces, a restaurant serving Indian and global cuisines, and a rooftop swimming pool. It is strategically positioned in proximity to Ahmedabad International Airport and the Narendra Modi Stadium.
Strategic Rationale
The acquisition strengthens ITC Hotels' owned asset portfolio in Ahmedabad by straddling across all branded hospitality market segments and price points. This value-accretive acquisition reduces time-to-market and optimizes capital efficiency compared to greenfield investment. The company expects to capitalize on diversified year-round demand from Ahmedabad's expanding corporate footprint, industrial corridors, MICE, and Sports events. The transaction is expected to be EPS accretive in the first full year of the hotel's operations post-acquisition.
Management Commentary
Anil Chadha, Managing Director of ITC Hotels Limited, stated: "The acquisition of this Hotel will mark another milestone in pursuit of the Company's growth aspiration by adding another owned property in one of the fastest growing urban centres of India. Transitioning this established 130-room property from a managed contract to full ownership allows us to unlock greater value from the asset."
Market Context
Ahmedabad is described as an emerging metropolitan hub and among India's top eight urban economies by GDP, supported by prominent corporates and industrial corridors like Dholera, GIFT City, and Sanand. This acquisition follows ITC Hotels' recent acquisition of The Zuri Kumarakom, Kerala Resort & Spa, underscoring the company's commitment to strengthening its presence in key commercial and leisure destinations nationwide.
Current Operation
The hotel is currently operated by ITC Hotels under an Operating Services Agreement, which will transition to full ownership upon completion of the acquisition.