ITC Hotels acquires Zuri Hotels & Resorts in ₹205 cr deal

ITC Hotels announced the acquisition of Zuri Hotels and Resorts Private Limited in a deal valued at ₹205 crore, according to an exchange filing made on May 15. The company will acquire 100% shareholding in Zuri Hotels, comprising 1,27,91,223 equity shares with a face value of ₹10 each.

The hospitality major stated that the transaction has been structured on a cash-free, debt-free basis. Out of the total enterprise value of ₹205 crore, the equity consideration for acquiring the entire stake in the company will not exceed ₹175 crore, while the remaining amount accounts for repayment of debt and customary transaction adjustments.

In its regulatory filing, ITC Hotels said its Board of Directors approved the execution of a Share Purchase Agreement for the acquisition of the company.

The filing stated, “We write to advise that, pursuant to approval of the Board of Directors of the Company at the meeting held today, i.e., 15th May, 2026, the Company has executed Share Purchase Agreement for acquisition of 100% of the share capital of Zuri Hotels and Resorts Private Limited.”