ITC Hotels signed a definitive agreement to acquire 100% of the share capital of GHK Hospitality & Infrastructures Ltd for ₹155 crore on a debt-free and cash-free basis. The transaction covers the 130-key Welcomhotel Ahmedabad, an Upper Upscale property located on Ashram Road overlooking the Sabarmati Riverfront. The acquisition is expected to be consummated within the current quarter, subject to customary adjustments under the definitive agreement.

Strategic Rationale and Asset Expansion

The acquisition aligns with ITC Hotels' strategy to strengthen its owned asset portfolio in Ahmedabad by straddling across all branded hospitality market segments. Transitioning the property from a managed contract to full ownership allows the company to unlock greater value, optimize capital efficiency, and reduce time-to-market compared to a greenfield investment. The company expects the transaction to be EPS accretive in the first full year of operations post-acquisition.

Property Details and Market Position

Welcomhotel Ahmedabad features spacious rooms, 8,500 sq.ft of banqueting spaces, a restaurant, and a rooftop swimming pool. The hotel is in proximity to the Ahmedabad International Airport and the Narendra Modi Stadium. Anil Chadha, Managing Director, ITC Hotels Limited, highlighted that Ahmedabad is one of India's fastest-growing urban centres, supported by infrastructure investments and industrial corridors like Dholera, GIFT City, and Sanand.

Recent Expansion Moves

This acquisition follows ITC Hotels' recent purchase of The Zuri Kumarakom, Kerala Resort & Spa, a luxury resort in a high-growth leisure destination. Both moves underscore the company's commitment to strengthening its presence in key commercial and leisure destinations nationwide.

ITC Hotels Limited has completed the despatch of the Notice of its 3rd Annual General Meeting (AGM) for the financial year ended March 31, 2026. The meeting is scheduled for Thursday, August 6, 2026, at 10:30 a.m. Shareholders whose names appear in the Register of Members or Beneficial Owners as on the cut-off date of Thursday, July 30, 2026, will be entitled to vote.

E-Voting Schedule

Resolutions at the AGM will be transacted through remote e-voting and e-voting during the meeting. Remote e-voting facilities will be available from 9:00 a.m. (IST) on Sunday, August 2, 2026, until 5:00 p.m. (IST) on Wednesday, August 5, 2026. Members who cast their votes remotely may attend the AGM but cannot vote again. The services of National Securities Depository Limited (NSDL) have been engaged for the e-voting process.

Document Access

The Notice of AGM and the Report and Accounts 2026 are available on the company's website under the 'Investor Relations' section. They are also accessible on the websites of National Stock Exchange of India Limited (NSE) and BSE Limited (BSE). The notice was published in the Kolkata editions of Business Standard and Bartaman on July 13, 2026, and in other major city editions of Business Standard.

For queries related to e-voting, members may contact Mr. Amit Vishal at NSDL or Mr. Diwaker Dinesh, Company Secretary, at the corporate office.