ITC Hotels has signed definitive agreements to acquire The Zuri Kumarakom Kerala Resort & Spa as part of its expansion strategy in India’s leisure hospitality market. The company will acquire a 100 per cent stake in Zuri Hotels & Resorts Private Limited, which owns the property, at an enterprise value of Rs. 205 crore, on a debt-free, cash-free basis, subject to customary adjustments.
Located along the banks of Vembanad Lake in Kumarakom, the resort spans 18 acres and will become ITC Hotels’ first owned resort property in Kerala upon completion of the transaction. The property is situated around 70 km from Kochi and comprises 72 keys, including villas and cottages, designed around a five-acre man-made lagoon inspired by Kerala’s backwaters.
The resort has several dining options, event spaces, and around 20,000 sq. ft. dedicated to spa and wellness. The company stated that the property will be renovated prior to its rebranding under the ITC Hotels collection.
According to the company, the redesign will incorporate elements inspired by Kerala’s traditional architecture, including regional woodcraft and stonework, in line with ITC Hotels’ “Rooted in the Soil” philosophy.
Anil Chadha, Managing Director, ITC Hotels Ltd 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.”
“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,” he added.
Post extensive renovation, the Resort will be rebranded as a luxury resort under the “ITC Hotels” brand.
The company also plans to integrate its culinary offerings, the Club ITC loyalty programme, and its distribution network into the property as part of the repositioning process.
Kumarakom remains one of Kerala’s established backwater tourism destinations, attracting domestic and international travellers seeking wellness, leisure and nature-based experiences.