ITC Hotels has entered into a definitive agreement to acquire a 100 per cent stake in GHK Hospitality and Infrastructures Ltd, the owner of Welcomhotel Ahmedabad, for an enterprise value of ₹155 crore. The acquisition, which is subject to customary adjustments, will be carried out on a debt-free, cash-free basis and is expected to be completed within the current quarter.
The 130-key upper upscale property is currently operated by ITC Hotels under an Operating Services Agreement. Following the acquisition, the hotel will transition from a managed property to a wholly owned asset, reinforcing ITC’s presence and long-term growth strategy in Gujarat.
