Restaurant India News: ITC Hotels Acquires The Zuri Kumarakom Resort in Rs 205 Crore Deal

ITC Hotels Limited has signed definitive agreements to acquire The Zuri Kumarakom, Kerala Resort & Spa as part of its strategy to strengthen its presence in India's leisure hospitality segment. The company will acquire a 100 percent stake in Zuri Hotels & Resorts Private Limited (ZHRPL), the owner of the property, at an enterprise value of Rs 205 crores on a debt-free and cash-free basis, subject to customary adjustments under the transaction agreements.

The acquisition is expected to be completed within the next few days and marks ITC Hotels’ entry into Kerala with its first owned resort property. The move expands the company’s luxury portfolio in one of India's established leisure travel destinations.

Located in Kumarakom on the banks of Vembanad Lake, the resort spans 18 acres and is situated approximately 70 km from Cochin. The property features 72 keys, including 38 villas and cottages, built around a 5-acre man-made lagoon. The resort also houses multiple dining venues, event facilities and nearly 20,000 sq. ft. of spa and wellness infrastructure.

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. Kerala’s rich cultural heritage and breathtaking landscapes have always resonated with tourists, and we are thrilled to bring our luxury offerings to this serene backwater sanctuary. By integrating this iconic resort into our portfolio, we aim to elevate the guest experience through our globally recognized culinary excellence and world-class Ayurvedic wellness offerings. This move reinforces our commitment to deliver authentic experiences that define the future of Indian hospitality.”

Following the acquisition, the property will undergo extensive renovations before being rebranded under the ITC Hotels brand. The redevelopment will incorporate regional architectural influences, including traditional woodcraft and stonework, in line with the company's "Rooted in the Soil" philosophy.

ITC Hotels expects the integration to create value through its established hospitality ecosystem, including its culinary offerings, guest service standards, Club ITC loyalty programme and distribution network. The company stated that the resort's stabilized revenue is expected to reach close to 3x of its current levels and contribute positively to overall portfolio margins.

The acquisition reflects the growing focus among hospitality companies on expanding their presence in leisure-driven destinations as demand for premium travel experiences continues to rise across domestic and international markets. For ITC Hotels, the Kumarakom property also provides an opportunity to strengthen its position in the meetings, incentives, conferences and exhibitions (MICE) segment while broadening its footprint in South India.