ITC Hotels signs deal to acquire Welcomhotel Ahmedabad for ₹155 crore

ITC Hotels signs definitive agreement for strategic acquisition of a 130 key operating hotel in Ahmedabad’s vibrant commercial hub

ITC Hotels will acquire Welcomhotel Ahmedabad for Rs 155 crores. This strategic acquisition strengthens the company's owned asset portfolio in the city. The 130-room hotel offers extensive banqueting and dining facilities. This move will enhance yields and cash flow generation over time. The transaction is expected to be completed within the current quarter.

4 hours ago

ITC Hotels To Acquire Ahmedabad Property For ₹155 Crore, Adds 130-Key Welcomhotel Through 100% Stake Buyout

Mumbai: ITC Hotels Limited announced on Tuesday, 16 July 2026, that it has signed a definitive agreement to acquire GHK Hospitality & Infrastructures Limited, the owner of Welcomhotel Ahmedabad. The transaction, valued at an enterprise value of Rs 155 crore on a debt-free, cash-free basis, will see ITC Hotels take full ownership of the 130-room property.Transaction DetailsITC Hotels will acquire a 100 percent stake in GHK Hospitality & Infrastructures Limited. The company expects to complete the acquisition within the current quarter, subject to customary adjustments.Hotel DescriptionThe Welcomhotel Ahmedabad is an upper-upscale business hotel featuring 130 rooms. It also includes 8,500 square feet of banqueting spaces, a restaurant offering Indian and global cuisines, and a rooftop swimming pool. ITC Hotels Q4 Profit Rises 23% To ₹317 Crore, Revenue Climbs To ₹1,254 CroreStrategic RationaleThe acquisition converts a currently managed property into an owned asset, according to Anil Chadha, Managing Director, ITC Hotels Limited. Chadha said this allows the company to unlock greater value and capitalise on Ahmedabad's diversified year-round demand from corporate, industrial, MICE, and sports events.Market PositionThe hotel is located on Ashram Road, overlooking the Sabarmati Riverfront, and is close to Ahmedabad International Airport and Narendra Modi Stadium. Ahmedabad is identified as one of India's top eight urban economies, driven by significant corporate and industrial growth.Expected ImpactITC Hotels expects the acquisition to be earnings per share (EPS) accretive for the company in the first full year of the hotel's operations. The move is also intended to optimise capital efficiency compared to a greenfield investment. AAHL & IHG Partner To Develop 5 Hotels Across Navi Mumbai And Key Airport Cities; Kimpton Brand To Debut In IndiaRecent ExpansionThis acquisition follows ITC Hotels' recent purchase of The Zuri Kumarakom, Kerala Resort & Spa. The company stated both moves reinforce its presence in key commercial and leisure destinations.Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.

6 hours ago