ITC Hotels Set to Acquire The Zuri Kumarakom Resort & Spa for ₹205 Crore
ITC Hotels Limited has signed definitive agreements for acquisition of a luxury resort in Kumarakom, Kerala - The Zuri Kumarakom, Kerala Resort & Spa (‘Resort’).
By SOH Edit Team
ITC Hotels Limited has signed definitive agreements to acquire 100% stake in Zuri Hotels & Resorts Private Limited (ZHRPL), owner of The Zuri Kumarakom, Kerala Resort & Spa, at an enterprise value of ₹205 crore on a debt-free, cash-free basis, subject to customary adjustments.
The acquisition, expected to close in the coming days, marks ITC Hotels’ entry into Kerala with its first owned resort property and strengthens the company’s presence in India’s high-growth luxury leisure segment.
Anil Chadha, Managing Director, ITC Hotels Limited, stated: “The acquisition of this exclusive property in Kumarakom marks a strategic milestone in expanding ITC Hotels’ footprint in one of India’s premier leisure destinations. By integrating this iconic resort into our portfolio, we aim to deliver elevated guest experiences through our culinary excellence and Ayurvedic wellness offerings while reinforcing our commitment to authentic Indian hospitality.”
Anil Chadha, Managing Director, ITC Hotels Limited.
Overview of the Resort
Spread across 18 acres along the banks of Vembanad Lake, the resort offers panoramic waterfront views and premium leisure infrastructure. Located approximately 70 km from Cochin, the property caters to both domestic and international 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.
Following extensive renovations, the resort will be repositioned under the “ITC Hotels” brand. The redevelopment will reflect ITC Hotels’ philosophy of “Rooted in the Soil,” incorporating Kerala’s traditional woodcraft, stonework, and regional architectural influences.
The integration of ITC Hotels’ operational strengths—including signature culinary experiences, premium guest services, Club ITC loyalty program, and robust distribution network—is expected to significantly enhance the property’s market positioning.
Business Outlook
The acquisition is expected to:
- Strengthen ITC Hotels’ luxury leisure portfolio
- Enhance presence in the premium MICE segment
- Deliver strong brand-led value creation
- Achieve stabilized revenues estimated at nearly three times current levels
- Be margin accretive to ITC Hotels’ overall portfolio
Known as the “Crown Jewel” of Kerala, Kumarakom is renowned for its serene backwaters, rich biodiversity, Ayurvedic wellness traditions, and lush landscapes. The destination continues to attract discerning global and domestic travellers seeking immersive luxury and authentic cultural experiences.
Key Highlights:
- 72 keys Resort
- 5-acre man-made lagoon
- Multiple dining venues
- Event spaces
- Spa and wellness facilities
