In a significant move to strengthen its luxury leisure portfolio, ITC Hotels Limited has signed definitive agreements to acquire The Zuri Kumarakom Kerala Resort & Spa through the purchase of 100 percent stake in Zuri Hotels & Resorts Private Limited.
The acquisition, valued at an enterprise value of Rs. 205 crore on a debt-free and cash-free basis, is expected to be completed over the next few days, subject to customary adjustments and closing formalities.
With this acquisition, ITC Hotels will establish its first owned resort in Kumarakom, one of India’s most prominent luxury leisure and wellness destinations known for its backwaters and high-end tourism appeal.
Spread across nearly 18 acres along the banks of the Vembanad Lake, the 72-key resort features villas and cottages built around a five-acre man-made lagoon inspired by Kerala’s iconic backwater landscape. The property also includes multiple dining venues, event spaces and nearly 20,000 square feet of spa and wellness facilities.
Located around 70 kilometres from Kochi, the resort caters to both domestic and international travellers and has long been positioned among Kerala’s established luxury hospitality destinations.
Commenting on the acquisition, Anil Chadha, Managing Director of ITC Hotels Limited, described the move as a strategic milestone in the company’s expansion into high-growth leisure destinations.
He said Kerala’s cultural richness and natural beauty continue to attract travellers from across the world, adding that the integration of the resort into ITC Hotels’ portfolio would help elevate guest experiences through the group’s culinary expertise and wellness offerings rooted in Ayurveda.
Following extensive renovation and repositioning, the property will be rebranded under the ITC Hotels luxury brand portfolio. The company said the redesigned resort will reflect its “Rooted in the Soil” philosophy by incorporating Kerala’s traditional architectural styles, regional craftsmanship, woodwork and stone detailing.
ITC Hotels also plans to leverage its institutional strengths including signature culinary experiences, loyalty ecosystem, guest service standards and distribution network to reposition the property as a leading luxury destination for both leisure and high-profile MICE tourism.
According to the company, the stabilized revenue potential of the resort is projected to reach nearly three times its current levels over the long term.
The acquisition comes at a time when luxury leisure tourism, wellness travel and experiential hospitality continue to witness strong growth across India, with Kerala remaining one of the country’s most sought-after premium travel destinations.
