ITC Hotels To Acquire Ahmedabad Property For ₹155 Crore, Adds 130-Key Welcomhotel Through 100% Stake Buyout
· Free Press Journal
Mumbai: ITC Hotels Limited announced on Tuesday, 16 July 2026, that it has signed a definitive agreement to acquire GHK Hospitality & Infrastructures Limited, the owner of Welcomhotel Ahmedabad. The transaction, valued at an enterprise value of Rs 155 crore on a debt-free, cash-free basis, will see ITC Hotels take full ownership of the 130-room property.
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Transaction Details
ITC Hotels will acquire a 100 percent stake in GHK Hospitality & Infrastructures Limited. The company expects to complete the acquisition within the current quarter, subject to customary adjustments.
Hotel Description
The Welcomhotel Ahmedabad is an upper-upscale business hotel featuring 130 rooms. It also includes 8,500 square feet of banqueting spaces, a restaurant offering Indian and global cuisines, and a rooftop swimming pool.
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The acquisition converts a currently managed property into an owned asset, according to Anil Chadha, Managing Director, ITC Hotels Limited. Chadha said this allows the company to unlock greater value and capitalise on Ahmedabad's diversified year-round demand from corporate, industrial, MICE, and sports events.
Market Position
The hotel is located on Ashram Road, overlooking the Sabarmati Riverfront, and is close to Ahmedabad International Airport and Narendra Modi Stadium. Ahmedabad is identified as one of India's top eight urban economies, driven by significant corporate and industrial growth.
Expected Impact
ITC Hotels expects the acquisition to be earnings per share (EPS) accretive for the company in the first full year of the hotel's operations. The move is also intended to optimise capital efficiency compared to a greenfield investment.
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This acquisition follows ITC Hotels' recent purchase of The Zuri Kumarakom, Kerala Resort & Spa. The company stated both moves reinforce its presence in key commercial and leisure destinations.
Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.