economy

ITC Hotels acquires 130-key Welcomhotel Ahmedabad for ₹155 crore

Published on: 17 Jul 2026, 04:36 AM

ITC Hotels Limited has announced the acquisition of a 100% stake in GHK Hospitality and Infrastructures Ltd., the owner of Welcomhotel Ahmedabad. The hotel, currently operated by ITC under a management agreement, will become a wholly owned asset of the company.

The 130-key property is located on Ashram Road, overlooking the Sabarmati Riverfront, and is close to Ahmedabad International Airport and the Narendra Modi Stadium. Ahmedabad ranks among India's top eight urban economies, driven by major corporates and industrial corridors like Dholera, GIFT City, and Sanand.

The acquisition strengthens ITC's owned asset portfolio in Ahmedabad, covering multiple market segments. The transaction is valued at ₹155 crore on a debt-free, cash-free basis and is expected to close within the current quarter.

Anil Chadha, Managing Director of ITC Hotels, stated: "The acquisition marks another milestone in our growth journey, adding an owned property in one of India's fastest-growing urban centres. The hotel's prime location, established brand, and consistent occupancy offer attractive opportunities for long-term yield enhancement and cash flow generation."

This move follows ITC's recent acquisition of The Zuri Kumarakom in Kerala, underscoring the company's strategy to expand its owned portfolio in high-growth destinations.

Source: The Hindu

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