ITC Hotels on Friday signed definitive agreements for the acquisition of the luxury resort, Zuri Kumarakom, Kerala Resort & Spa (Resort).
The company will acquire a 100 per cent stake in Zuri Hotels & Resorts Private Limited (ZHRPL), which owns the Resort, at an Enterprise Value of Rs 205 crores, on a debt-free and cash- free basis, subject to customary adjustments as per the definitive agreements.
ITC Hotels on Friday also reported that its consolidated net profit for the March quarter (QFY26) grew by 23 per cent year-on-year to Rs 317.43 crore. The company’s revenue from operations rose to Rs 1,253.70 crore in Q4FY26, compared to Rs 1,060.62 crore in the same period last year.
“Consolidated Revenue from Operations grew by 18 per cent, led by progressive handover of Sapphire Residences. Consolidated Revenue from Operations (Ex-Real Estate) grew by 6 per cent, on account of subdued demand levels caused by West Asia tensions, which particularly impacted inbound travel, especially in South Indian states, and a high base effect of the previous year,” said ITC Hotel in a regulatory filing.
Aligned to its ‘Asset‑Right’ strategy, ITC aims to scale its portfolio to 250 operational hotels with more than 22,000 keys by 2031.
During the financial year, the company recorded its highest‑ever signings, adding 33 hotels with over 3,300 keys.
ITC now has a pipeline of 67 managed hotels comprising 6,700 keys. This pipeline represents over 77 per cent of the current operational managed base, with a high proportion of assets under construction.
As per ITC, the acquisition of Zuri Hotels & Resorts is expected to be consummated over the next few days and will enable ITC Hotels to expand its luxury portfolio in a strategic, high- growth leisure destination - establishing the company’s first owned resort in Kerala.
Anil Chadha, Managing Director of ITC Hotels Limited, said, “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. By integrating this iconic resort into our portfolio, we aim to elevate the guest experience through our globally recognised culinary excellence and world-class Ayurvedic wellness offerings.”
Post extensive renovation, the Resort will be rebranded as a luxury resort under the “ITC Hotels” brand.
Stabilized Revenue of the Resort is expected to be close to 3x of current levels and margin accretive to ITC Hotels’ portfolio, stated the company.
The Resort, spread over 18 acres of lush landscaped greenery, is located approximately 70 km from Cochin, and serves as an accessible luxury hub for international and domestic travellers.
The 72 Keys Resort includes 38 villas and cottages, and about 20,000 sq. ft. of spa and wellness facilities.
