ITC Hotels Acquires GHK Hospitality for ₹155 Crore, Bolstering Ahmedabad Portfolio
ITC Hotels Limited has approved the acquisition of 100% of the equity share capital of GHK Hospitality & Infrastructures Limited for an enterprise value of ₹155 crore, strengthening its portfolio of owned hotel assets.
The acquisition, approved by the company’s Board of Directors on July 16, 2026, will enable ITC Hotels to take ownership of Welcomhotel Ahmedabad, a property that it has been operating under an Operating Services Agreement.
ITC Hotels to Acquire 130-Key Welcomhotel Ahmedabad
GHK Hospitality & Infrastructures Limited owns Welcomhotel Ahmedabad, a 130-key premium hotel located in one of India’s fastest-growing commercial and business hubs.
With the acquisition, ITC Hotels will convert the property from a managed asset into a wholly owned hotel, allowing the company to directly benefit from its future earnings and long-term value creation.
Deal Value and Structure
The acquisition will be completed for an enterprise value of ₹155 crore on a cash-free and debt-free basis.
Key transaction details include:
- Target Company: GHK Hospitality & Infrastructures Limited
- Stake Acquired: 100% equity share capital
- Enterprise Value: ₹155 crore
- Mode of Payment: All-cash transaction
- Hotel Asset: Welcomhotel Ahmedabad (130 keys)
- Expected Completion: During Q2 FY27, subject to customary closing conditions
Strengthening the Owned Hotel Portfolio
ITC Hotels said the acquisition aligns with its strategy of expanding its portfolio of owned hospitality assets in high-growth markets.
Ahmedabad continues to witness strong demand from business travellers, conferences, exhibitions, and leisure tourism, making it an attractive destination for long-term hotel investments.
By acquiring a property it already manages, ITC Hotels is expected to achieve greater operational integration while enhancing returns from a well-established hospitality asset.
Established Asset with Consistent Growth
According to the company’s disclosure, GHK Hospitality reported a turnover of ₹35.16 crore in FY26, reflecting steady business growth over the past few financial years.
The acquisition provides ITC Hotels with an established operating property that is already integrated into its hospitality network.