ITC Hotels has today signed definitive agreements for acquisition of a luxury resort in Kumarakom, Kerala - The Zuri Kumarakom, Kerala Resort & Spa (Resort). The Company will acquire 100% stake in Zuri Hotels & Resorts (ZHRPL), which owns the Resort, at an Enterprise Value of Rs. 205 crore, on a debt-free and cash free basis, subject to customary adjustments as per the definitive agreements.

The acquisition is expected to be consummated over the next few days and will enable ITC Hotels to expand its luxury portfolio in a strategic, high growth leisure destination - establishing the company's first owned resort in Kerala.

The Resort is spread over 18 acres of lush landscaped greenery, along the serene banks of the Vembanad Lake, offering panoramic views and a private waterfront frontage. Located approximately 70 km from Cochin, it serves as an accessible luxury hub for both international and domestic travellers.

The 72 keys Resort, includes 38 villas and cottages, which are designed around a sprawling 5-acre man-made lagoon that mirrors the tranquillity of Kerala's backwaters. The property provides a seamless blend of traditional architecture and contemporary luxury with multiple dining venues, event spaces and about 20,000 sq.ft. of spa and wellness facilities.