ITC hotels announces the acquisition of 130 key operating hotels in the commercial hub of Ahmedabad

View of Welcomhotel, Ahmedabad | Photo credit: The Hindu

ITC Hotels Limited has announced that the company will acquire 100% stake in GHK Hospitality and Infrastructures Ltd., which owns Welcomhotel, Ahmedabad, which is currently being operated by the company under an operational services agreement.

The 130-key “Welcomhotel Ahmedabad” is located along Ahmedabad’s prominent Ashram Road overlooking the picturesque Sabarmati waterfront and is close to Ahmedabad International Airport and Narendra Modi Stadium.

Ahmedabad is an emerging metropolitan center and is among India’s top eight urban economies supported by major corporations, industrial corridors such as Dholera, GIFT City and Sanand.

The addition of this hotel would further strengthen the company’s portfolio of owned assets in Ahmedabad by spanning across all branded hospitality market segments and price points, the company said.

The acquisition is expected to be completed during the current quarter and the transaction will be completed at an enterprise value of ₹ 155 crore, on a debt-free and cash-free basis.

“The acquisition of this hotel will mark another milestone in the company’s growth efforts by adding another owned property in one of India’s fastest growing urban centers…. The hotel’s prime location, established brand and consistent occupancy levels provide an attractive opportunity to increase revenue and generate cash flow over the long term,” said Anil Chadha, Managing Director, ITC Hotels Limited.

ITC Hotels Limited recently acquired The Zuri Kumarakom, Kerala Resort & Spa, a luxury resort in a fast-growing holiday destination.

Published – 17 Jul 2026 10:06 IST