ITC Hotels has agreed to acquire the Zuri Kumarakom Resort & Spa in Kerala, India, in a deal valued at Rs2.05 billion, equivalent to approximately $21.3 million.
The hospitality group confirmed it will purchase the entire stake in the resort from Zuri Hotels & Resorts Private on a debt-free and cash-free basis.
According to the company, the transaction is expected to be completed in the coming days, subject to standard contractual adjustments.
First Owned Resort In Kerala For ITC Hotels
Once finalised, the acquisition will mark ITC Hotels’ first owned resort property in Kerala, significantly expanding the company’s presence within one of India’s leading leisure tourism markets.
The resort is located in Kumarakom along the shores of Vembanad Lake, approximately 70 kilometres from Cochin.
The property spans 18 acres and includes 72 rooms, featuring 38 villas and cottages.
Facilities include a five-acre man-made lagoon, several restaurants and event venues, as well as nearly 20,000 square feet of spa and wellness facilities.
Major Renovation And Rebranding Planned
ITC Hotels said it plans to undertake extensive renovation work before relaunching the resort under one of its own hospitality brands.
The company aims to integrate its luxury hospitality standards, culinary offerings and wellness experiences into the property.
Managing Director Anil Chadha described the acquisition as an important milestone in the group’s expansion strategy.
“The acquisition of this exclusive property in Kumarakom marks a strategic cornerstone in our journey to expand ITC Hotels’ footprint into one of India’s most sought-after leisure destinations,” Chadha said.
He added that Kerala’s cultural heritage and natural landscapes continue attracting strong tourism demand both domestically and internationally.
Focus On Wellness And Luxury Experiences
ITC Hotels said the renovated resort will place strong emphasis on luxury hospitality, culinary experiences and Ayurvedic wellness programmes.
The company believes the integration of the property into its portfolio could significantly increase its financial performance.
Projections suggest the resort’s stabilised revenue following brand integration may eventually approach three times its current level.
ITC Hotels Continues Rapid Expansion
The acquisition forms part of ITC Hotels’ broader expansion strategy across India’s luxury and leisure hospitality sector.
Earlier this year, the company opened its 30th Welcomhotel property in Mohali, Chandigarh, featuring 113 rooms.
India’s hospitality market continues experiencing strong growth as domestic tourism, wellness travel and luxury leisure demand expand rapidly across the country.
