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ITC Hotels has entered into definitive agreements to acquire The Zuri Kumarakom Resort & Spa in Kerala, further strengthening its luxury hospitality portfolio in India’s growing leisure travel market.
As part of the transaction, the company will acquire a 100 percent stake in Zuri Hotels & Resorts Private Limited (ZHRPL), the owner of the resort, at an enterprise value of Rs 205 crore on a debt-free and cash-free basis, subject to customary closing adjustments outlined in the agreements.
The acquisition is expected to close within the next few days and marks ITC Hotels’ first owned resort property in Kerala, reinforcing its expansion strategy in high-potential leisure destinations.
Nestled across 18 acres of landscaped surroundings on the banks of Vembanad Lake, the resort offers expansive waterfront views and a tranquil luxury retreat experience. Situated nearly 70 km from Cochin, the property caters to both domestic and international travellers seeking premium leisure stays in Kerala.
The 72-key resort features 38 villas and cottages thoughtfully arranged around a sprawling five-acre man-made lagoon inspired by the calmness of Kerala’s backwaters. Combining traditional regional design with modern luxury, the property includes multiple dining options, event and banquet spaces, along with nearly 20,000 sq. ft. dedicated to spa and wellness facilities.
Speaking on the occasion, Anil Chadha said, “The acquisition of this exclusive property in Kumarakom marks a strategic cornerstone in our journey to expand ITC Hotels’ footprint into one of India’s most sought-after leisure destinations. Kerala’s rich cultural heritage and breathtaking landscapes have always resonated with tourists, and we are thrilled to bring our luxury offerings to this serene backwater sanctuary. By integrating this iconic resort into our portfolio, we aim to elevate the guest experience through our globally recognized culinary excellence and world-class Ayurvedic wellness offerings. This move reinforces our commitment to deliver authentic experiences that define the future of Indian hospitality.”
Following an extensive refurbishment, the property will be repositioned as a luxury offering under the ITC Hotels brand portfolio. Reflecting the group’s “Rooted in the Soil” philosophy, the resort’s design approach will incorporate Kerala’s traditional architectural elements, featuring regional woodcraft and stonework that showcase the state’s cultural heritage and artisanal craftsmanship.
The integration of ITC Hotels’ hospitality ecosystem, including its signature culinary experiences, premium guest services, Club ITC loyalty platform, and extensive distribution network, is expected to enhance the property’s positioning as a leading luxury destination for leisure travellers and high-end MICE business.
The company expects the resort’s stabilized revenue potential to grow to nearly three times its current levels, while also contributing positively to the overall margins of the hotel portfolio.
