ITC Hotels Ltd on July 17, 2026, signed a definitive agreement to acquire 100% ownership of GHK Hospitality and Infrastructures Ltd, the owner of Welcomhotel Ahmedabad, a 130-room upper-upscale business hotel. The acquisition values the transaction enterprise at Rs 155 crores on a debt-free and cash-free basis. Welcomhotel Ahmedabad, currently operated by ITC Hotels under an operating services agreement, features 8,500 square feet of banqueting space, an Indian and international cuisine restaurant, and a rooftop swimming pool. The deal is set for completion within the current quarter.
ITC Hotels Reports Strong Q1 FY27 Financials
Coinciding with the acquisition announcement, ITC Hotels reported a consolidated net profit increase
of 36% to Rs 181.91 crore for the quarter ending June 30, 2026. The company also posted a 15% year-on-year rise in revenue from operations, reaching Rs 936.02 crore in Q1 FY27. These financial results align with ITC Hotels’ expansion strategies across commercial and leisure destinations in India.
Strategic Location and Market Significance of Ahmedabad
Situated on Ashram Road, Welcomhotel Ahmedabad overlooks the Sabarmati Riverfront and is near Ahmedabad International Airport and the Narendra Modi Stadium. Ahmedabad ranks among India’s fastest-growing urban centres and is one of the top eight urban economies by GDP. The city benefits from extensive infrastructure investments and prominent industrial corridors such as
Dholera, GIFT City, and Sanand. ITC Hotels aims to leverage Ahmedabad’s diverse, year-round corporate, industrial, MICE, and sports-driven demand by expanding its owned hotel portfolio in this commercial hub.
Official Statements and Sector Context
Anil Chadha, Managing Director of ITC Hotels Ltd, characterized the acquisition as a milestone in the company’s growth, emphasizing that full ownership of the 130-room Welcomhotel Ahmedabad enables unlocking greater asset value compared to operating under a managed contract. He noted Ahmedabad’s strong infrastructure and diversified demand fundamentals as key factors making this acquisition attractive. The Indian hospitality sector faced demand softness linked to the West Asia conflict in April 2026
but began recovery by May and June, supporting ITC Hotels’ expansion moves including its recent acquisition of The Zuri Kumarakom Resort & Spa in Kerala.
