ITC Hotels has executed the ‘Share Purchase and Share Subscription Agreement’ for acquisition of 100% of the share capital of GHK Hospitality & Infrastructures. The transaction would allow the company to expand its owned asset portfolio in Ahmedabad across all market segments through an established hotel (currently operated by the Company under an Operating Services Agreement). This value-accretive acquisition provides an opportunity to the company to capitalize on Ahmedabad’s diversified year-round demand.
The acquisition of shares is expected to be completed within Q2 FY27. Cost of acquisition is Rs 155 crore. The investment in GHK shall be made through primary subscription and secondary purchase of equity shares of GHK.
ITC Hotels is engaged in the business of owning, operating, managing and franchising hotels and resorts and is focused towards enabling authentic indigenous experiences for its guests, which are in harmony with the environment and society.
