ITC Hotels Limited has signed definitive agreements to acquire The Zuri Kumarakom, Kerala Resort & Spa in Kerala. The company will acquire a 100% stake in Zuri Hotels & Resorts Private Limited (ZHRPL), which owns the resort, at an enterprise value of ₹205 crore, on a debt-free and cash-free basis, subject to customary adjustments.
The acquisition is expected to be completed in the coming days and will help ITC Hotels expand its luxury portfolio in a strategic, high-growth leisure destination, marking the company’s first owned resort in Kerala.
