ITC Hotels to acquire 100% of GHK Hospitality for Rs 155 crore

What ITC Hotels announced

On 16 July 2026, the Board of Directors of ITC Hotels Ltd approved a Share Purchase and Share Subscription Agreement to acquire 100 % of the share capital of GHK Hospitality & Infrastructures Limited (GHK). The transaction is being executed on a cash‑free, debt‑free basis with an enterprise value of ₹ 155 crore. The acquisition is expected to be completed in Q2 of FY 27.

Details of the acquisition

• Target entity: GHK Hospitality & Infrastructures Limited, a public limited company incorporated on 10 May 2007 and headquartered in Ahmedabad, India.
• Business: Operates a single hotel – Welcomhotel Ahmedabad – with 130 keys.
• Consideration: Cash payment amounting to an enterprise value of ₹ 155 crore. The investment will be made through a combination of primary subscription and secondary purchase of GHK equity shares.
• Ownership: Post‑completion, ITC Hotels will hold 100 % of the equity share capital of GHK, giving it full control over the hotel asset.
• Related‑party status: The filing confirms that the promoters or promoter group of ITC Hotels have no interest in GHK, and the transaction is not a related‑party deal.
• Regulatory approvals: No governmental or regulatory approvals are required for the acquisition.

Financial profile of GHK Hospitality

The turnover figures, taken from audited accounts, show a steady upward trend over the last three years, indicating growing revenue generation from the Welcomhotel Ahmedabad operation.

Timeline and procedural notes

• Board meeting: Convened on 16 July 2026, started at 1:20 p.m. and concluded at 1:55 p.m.
• Execution of agreement: The Share Purchase and Share Subscription Agreement was signed on the same day.
• Completion window: The parties anticipate closing the transaction in Q2 FY 27, subject to customary closing conditions.
• Listing obligations: The announcement complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated 30 January 2026.

Key facts at a glance

Why this matters for investors

The acquisition expands ITC Hotels’ owned‑asset portfolio in Ahmedabad, a city with year‑round demand across business, leisure and pilgrimage segments. By moving from an operating‑services arrangement (where ITC Hotels previously managed the hotel) to outright ownership, the company can capture the full economic benefits of the asset, including rental income, appreciation and operational synergies. The cash‑free, debt‑free basis of the deal means that the stated enterprise value reflects the underlying equity value without additional liabilities, providing clarity on the financial outlay required.

From a financial perspective, GHK’s turnover has risen from ₹ 25.62 crore in FY 23‑24 to ₹ 35.16 crore in FY 25‑26, suggesting a healthy growth trajectory that could contribute positively to ITC Hotels’ consolidated revenue once the acquisition is completed. The transaction is funded through a mix of primary subscription (new shares issued by GHK) and secondary purchase (existing shares), which may have minor dilution implications but is offset by the addition of a revenue‑generating asset.

No regulatory clearances are needed, and the deal does not involve any related‑party concerns, reducing the risk of procedural delays. The expected completion in Q2 FY 27 aligns with the company’s strategic timeline for expanding its owned‑hotel footprint.

Conclusion

ITC Hotels Ltd has formally agreed to acquire 100 % of GHK Hospitality & Infrastructures Ltd for an enterprise value of ₹ 155 crore, adding the 130‑key Welcomhotel Ahmedabad to its owned portfolio. The acquisition is cash‑based, free of debt, and is slated for completion in Q2 FY 27. While the deal expands ITC Hotels’ asset base and offers exposure to a growing hotel business, final closure will depend on customary closing conditions, after which the hotel will be reflected in the company’s consolidated financials.

"The transaction would allow the Company to expand its owned asset portfolio in Ahmedabad across all market segments through an established hotel." – ITC Hotels Board announcement, 16 July 2026