ITC Hotels Limited has signed definitive agreements to acquire The Zuri Kumarakom Kerala Resort & Spa through the acquisition of 100% stake in Zuri Hotels & Resorts Private Limited (ZHRPL) for an enterprise value of ₹205 crore on a debt-free and cash-free basis.
The acquisition marks ITC Hotels’ entry into owned resort operations in Kerala and strengthens its luxury hospitality portfolio in one of India’s fastest-growing leisure destinations. The transaction is expected to be completed over the next few days, subject to customary closing adjustments.
Spread across 18 acres along the banks of Vembanad Lake, the 72-key luxury resort includes 38 villas and cottages built around a five-acre man-made lagoon inspired by Kerala’s backwaters. Located around 70 km from Kochi, the property offers waterfront views, multiple dining venues, event spaces, and nearly 20,000 sq. ft. of spa and wellness facilities.
Speaking on the development, Anil Chadha, Managing Director, ITC Hotels Limited, said the acquisition represents a strategic milestone in expanding the company’s presence in high-growth leisure markets.
“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. 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,” he said.
Following extensive renovations, the resort will be rebranded under the ITC Hotels brand portfolio. The company said the redesigned property will reflect its “Rooted in the Soil” philosophy by incorporating Kerala-inspired architecture, traditional woodcraft, and local stonework.
ITC Hotels expects the integration of its culinary platforms, Club ITC loyalty ecosystem, guest services, and distribution network to significantly enhance the property’s positioning in the luxury leisure and MICE segments. The company added that stabilized revenues from the resort are expected to reach nearly three times current levels while remaining margin accretive to its portfolio.
Kumarakom, located in Kerala’s backwater region, continues to attract strong domestic and international tourism demand, particularly in wellness, experiential luxury, and eco-tourism segments, making it a strategic market for premium hospitality expansion.
