ITC Hotels completes Rs 155 crore acquisition of Welcomhotel Ahmedabad owner

ITC Hotels has completed its acquisition of GHK Hospitality, adding the 130-key Welcomhotel Ahmedabad to its owned portfolio and deepening its presence in the city’s year-round hospitality market.

— Source publishedWed, 2 Sept, 2026, 08:11 IST·First seen Wed, 2 Sept, 2026, 08:34 IST·Source Business Today · Latest

What happened

ITC Hotels completed its Rs 155 crore acquisition of GHK Hospitality, owner of the 130-key Welcomhotel Ahmedabad, expanding its owned hotel portfolio and

Key facts

  • Enterprise value: Rs 155 crore
  • 2,82,27,741 GHK equity shares acquired
  • 1,54,54,545 shares via primary subscription
  • 1,27,73,196 shares via secondary purchases
  • Welcomhotel Ahmedabad: 130 keys
  • GHK FY26 turnover: Rs 35.16 crore
  • GHK FY25 turnover: Rs 31.23 crore
  • GHK FY24 turnover: Rs 25.62 crore

Why this matters

The GHK Hospitality deal provides ITC Hotels a strategic route to full ownership of Welcomhotel Ahmedabad, combining capital injection with shareholder buyouts to consolidate a scalable city-market asset.

What to watch

  • Post-acquisition occupancy, ADR, RevPAR and EBITDA commentary for Welcomhotel Ahmedabad.
  • Any announced refurbishment, rebranding, room additions or expanded banquet/F&B capacity.
  • Growth in Ahmedabad MICE, wedding, corporate-travel and international visitor demand.
  • New upper-upscale and luxury hotel openings in Ahmedabad and nearby Gujarat markets.
  • ITC Hotels disclosures on acquisition pipeline, net debt, asset ownership strategy and return-on-capital targets.
  • Integrate Welcomhotel Ahmedabad into ITC Hotels' loyalty, distribution, corporate contracting and procurement systems.
  • Assess room, banquet, restaurant and sustainability capex needed to align the property with Welcomhotel brand standards.
  • Use the acquired asset to pursue MICE, weddings, corporate accounts and long-stay demand in Ahmedabad.
  • Evaluate adjacent Gujarat opportunities for management contracts, brownfield conversions and owned-asset acquisitions.
  • Track whether the transaction increases ITC Hotels' appetite for further balance-sheet-led acquisitions after its separation from ITC Ltd.