ITC Hotels Snaps Up Zuri Hotels And Resorts For Rs 175 Crore
ITC Hotels has completed its acquisition of Zuri Hotels and Resorts for Rs 175 crore, converting Zuri into a wholly-owned subsidiary. The deal expands ITC's hospitality footprint and consolidates its position in India's premium hotel segment.
ITC Hotels has acquired Zuri Hotels and Resorts for Rs 175 crore, making it a wholly-owned subsidiary following completion of the transaction on Tuesday, expanding ITC's hospitality footprint.
Why this matters
Closes ITC Hotels' previously announced Zuri buyout (reported at Rs 205 cr enterprise value) and follows a 23% Q4 PAT jump, signaling aggressive scale-up in the premium hotel segment.
Retail-company activity steady at 644 signals over the last 90 days.