ITC Hotels Acquires Zuri Hotels for Rs 175 Crore

ITC Hotels acquires Zuri Hotels and Resorts in a major hospitality deal valued at up to Rs 175 crore, strengthening the company’s luxury hospitality portfolio in India.

The acquisition was officially completed on May 19, 2026, with ITC Hotels purchasing 100 percent shareholding in Zuri Hotels and Resorts Private Limited. Following the transaction, Zuri Hotels has become a wholly owned subsidiary of ITC Hotels.

According to company disclosures, the acquisition has been carried out at an enterprise value of Rs 205 crore on a cash-free and debt-free basis. The agreement also includes repayment of debts and customary financial adjustments linked to the transaction.

Industry analysts believe the move reflects ITC Hotels’ growing focus on expanding its luxury leisure portfolio across high-potential tourism destinations in India.

The acquisition includes The Zuri Kumarakom Kerala Resort & Spa, one of Kerala’s well-known luxury backwater resorts located in Kumarakom.

The property currently features 72 keys along with two restaurants, a bar, and an ayurvedic spa spread across approximately 18 acres of land.

Hospitality experts note that Kerala continues attracting strong demand from domestic and international leisure travelers due to its wellness tourism, backwater experiences, nature retreats, and luxury hospitality offerings.

ITC Hotels stated that the resort will undergo renovation and repositioning before being relaunched as a luxury hospitality destination under its portfolio.

The company expects the redevelopment to enhance brand value while strengthening its position within India’s premium leisure and MICE tourism markets.

Industry observers believe luxury resort acquisitions have become increasingly important as hospitality companies focus on expanding beyond traditional business hotel segments.

India’s luxury tourism market has experienced strong growth driven by wellness tourism, experiential travel, destination weddings, and premium leisure demand.

Kerala remains one of the country’s leading wellness tourism destinations because of its ayurvedic heritage, coastal landscapes, and eco-tourism experiences.

The acquisition also highlights the growing trend of consolidation within India’s hospitality industry as major hotel groups continue strengthening portfolios through strategic acquisitions and partnerships.

Analysts suggest that acquiring operational resorts in established tourism markets allows hotel companies to accelerate expansion while reducing development timelines compared to new-build projects.

ITC Hotels has continued expanding its luxury and lifestyle hospitality presence across India through both management agreements and direct acquisitions.

The company has increasingly focused on creating destination-led hospitality experiences catering to leisure travelers, corporate events, conferences, and high-end social gatherings.

Industry experts believe luxury resorts capable of supporting weddings, wellness retreats, and premium business events remain among the strongest-performing hospitality assets in India.

The Zuri Kumarakom Kerala Resort & Spa has long been recognized for its scenic waterfront location and traditional Kerala-inspired hospitality experiences.

Following renovation and repositioning, the property is expected to target luxury leisure travelers and premium event segments more aggressively.

Hospitality analysts note that Kerala’s tourism industry continues benefiting from rising domestic travel demand, international wellness tourism, and growing interest in sustainable hospitality experiences.

The acquisition strengthens ITC Hotels’ long-term strategy of expanding across high-growth leisure destinations while enhancing its luxury hospitality portfolio nationwide.

As India’s hospitality sector continues evolving toward experiential and wellness-focused tourism, strategic resort acquisitions are expected to play a major role in future expansion strategies for leading hotel companies.