ITC Hotels to acquire luxury resort in Kerala’s Kumarakom for ₹205 crore

Hospitality major ITC Hotels has signed agreements to acquire the luxury waterfront property, The Zuri Kumarakom Kerala Resort & Spa, in Kerala’s Kottayam for ₹205 crore.

The acquisition will be carried out through the purchase of a 100 per cent stake in Zuri Hotels & Resorts Private Limited (ZHRPL), which owns the resort. 

The company said the acquisition is expected to be completed over the next few days and would mark ITC Hotels’ first owned resort property in Kerala, further strengthening its luxury portfolio in a fast-growing leisure destination.

ITC Hotels said that the transaction is being undertaken on a debt-free and cash-free basis, subject to customary adjustments under the definitive agreements.

Spread across 18 acres of landscaped greenery along the banks of the Vembanad Lake, the resort offers panoramic backwater views and a private waterfront frontage. Located around 70 km from Kochi, the property caters to both domestic and international travellers seeking luxury leisure experiences.

The 72-key resort includes 38 villas and cottages designed around a sprawling five-acre man-made lagoon inspired by Kerala’s famed backwaters. The property also houses multiple dining venues, event spaces and nearly 20,000 sq ft of spa and wellness facilities.

Speaking on the acquisition, Anil Chadha, Managing Director of ITC Hotels Limited, said that the acquisition of this exclusive property in Kumarakom marks a strategic cornerstone in their 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 recognised 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 said.

Following extensive renovations, the property will be rebranded as a luxury resort under the ITC Hotels brand. The company said the redesigned resort would reflect its “Rooted in the Soil” philosophy, incorporating Kerala’s traditional architectural styles, woodcraft and stonework to celebrate the state’s cultural heritage and craftsmanship.

ITC Hotels said the integration of its culinary offerings, guest services, Club ITC loyalty programme and distribution network is expected to significantly enhance the resort’s market positioning. The company expects the resort’s stabilised revenue to grow to nearly three times its current levels while also being margin accretive to its hospitality portfolio.

Kumarakom, often referred to as the “Crown Jewel” of Kerala, is internationally known for its tranquil backwaters, lush greenery and Ayurvedic wellness tourism, making it one of the state’s premier luxury travel destinations.