ITC Hotels to Acquire Welcomhotel Ahmedabad for ₹155 Crore

ITC Hotels Limited has announced its decision to acquire a 100% stake in GHK Hospitality and Infrastructures Ltd., the owner of Welcomhotel Ahmedabad. The property, currently operated by ITC Hotels under an operating services agreement, is strategically located on Ashram Road, overlooking the Sabarmati Riverfront. The acquisition, valued at ₹155 crore on a debt-free and cash-free basis, is expected to be finalized within the current quarter.

Strengthening Presence in Ahmedabad’s Growing Market

Ahmedabad, one of India’s top eight urban economies, is rapidly emerging as a metropolitan hub, supported by major corporate establishments and industrial corridors such as Dholera, GIFT City, and Sanand. ITC Hotels believes that owning Welcomhotel Ahmedabad will bolster its asset portfolio in the city, enabling the company to cater to a diverse range of hospitality market segments and price points.

Strategic Location and Long-Term Growth Potential

Welcomhotel Ahmedabad is a 130-key property situated close to key landmarks, including Ahmedabad International Airport and the Narendra Modi Stadium. Its prime location and established brand positioning have consistently ensured strong occupancy levels, presenting ITC Hotels with an opportunity to enhance long-term yields and cash flow generation. Anil Chadha, Managing Director of ITC Hotels Limited, described the acquisition as a significant milestone in the company’s growth strategy.

Recent Expansion Highlights

This acquisition follows ITC Hotels’ recent purchase of The Zuri Kumarakom, Kerala Resort & Spa, a luxury property in a high-growth leisure destination. The company’s focus on expanding its owned asset portfolio reflects its commitment to strengthening its presence in key urban and leisure markets across India.

The deal underscores ITC Hotels’ confidence in Ahmedabad’s economic trajectory and its potential as a hospitality hotspot.

Source: The Hindu