ITC Hotels has completed the acquisition of 100% shareholding in Zuri Hotels and Resorts Private Limited for a consideration of up to ₹175 crore, as reported in an exchange filing on Tuesday, May 19. The hotel chain purchased 1,27,91,223 equity shares of ₹10 per share each. The acquisition has been conducted with an enterprise value of ₹205 crore on a cash-free, debt-free basis, including repayment of debts and other customary adjustments.
Following the completion of the transaction on May 19, 2026, Zuri Hotels and Resorts has become a wholly-owned subsidiary of ITC Hotels. According to the exchange filing, the acquisition aims to strengthen ITC Hotels' luxury portfolio in a strategic, high-growth leisure destination through an established luxury property. The resort is expected to undergo renovation and will be rebranded as a luxury resort, unlocking brand-led value uplift and establishing itself as a premier luxury destination for leisure and high-profile meetings, conferences and related events.
Zuri Hotels and Resorts is a private limited company with its registered office in Goa, India, engaged in operating the resort 'The Zuri Kumarakom, Kerala Resort & Spa' with 72 keys, 2 restaurants, a bar and an ayurvedic spa, spread over 18 acres of land. As per the company's financials, it recorded an annual turnover of ₹21.91 crore in the fiscal year 2025-26.
The ITC Limited stock price gained 0.0484% on the last trading day (Tuesday, 19th May 2026), rising from ₹310.15 to ₹310.30. It has now gained 5 days in a row and will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day, the stock fluctuated 1.91% from a day low at ₹308.35 to a day high of ₹314.25. The price has risen in 6 of the last 10 days but is still down by -0.37% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before.
