ITC hotels announces acquisition of 130 key operating hotel in Ahmedabad’s commercial hub
ITC Hotels Limited has announced the acquisition of a 100% stake in GHK Hospitality and Infrastructures Ltd., which owns the Welcomhotel in Ahmedabad. This move is part of the company's strategy to expand its owned asset portfolio in India's growing urban centers.
Why it matters
This acquisition highlights the ongoing consolidation and growth in the Indian hospitality sector, particularly in emerging commercial hubs.
ITC Hotels Limited has announced that the company will acquire a 100% stake in GHK Hospitality and Infrastructures Ltd. that owns Welcomhotel, Ahmedabad, which is currently operated by the company under an operating services agreement.
‘Welcomhotel Ahmedabad’, with 130 keys is located along Ahmedabad’s prominent Ashram Road, overlooking the scenic Sabarmati Riverfront and is in proximity to Ahmedabad International Airport as well as the Narendra Modi Stadium.
Ahmedabad is an emerging metropolitan hub and amongst India’s top eight urban economies supported by prominent corporates, industrial corridors like Dholera, GIFT City and Sanand.
The addition of this hotel would further strengthen the company’s owned asset portfolio in Ahmedabad by straddling across all the branded hospitality market segments and price points, the company said.
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