ITC Hotels shares in focus: GQG Partners sells shares worth ₹197 crore

NRI Rajiv Jain-backed GQG Partners, through its affiliate GQG Partners Emerging Markets Equity Fund, offloaded 1,28,87,559 shares, amounting to a 0.62% stake in ITC Hotels, as per the bulk deal data on the National Stock Exchange (NSE).

The shares were disposed of at an average price of ₹152.67 per share, resulting in a transaction value of ₹196.75 crore.

After the completion of the transaction, GQG Partners' holding in ITC Hotels reduced to 1.35% from 1.97%.

Details of buyers of ITC Hotels' shares could not be ascertained on the exchange.

Other key details

ITC Hotels Limited is stepping up the expansion of its premium brand, Welcomhotel, in key pilgrimage and leisure destinations, with the company announcing its 50th hotel milestone on Wednesday, following new property signings in Bhubaneswar and Shirdi.

The company entered into definitive agreements with Sandy Resort Private Limited to operate a 73-room hotel in Shirdi and an 84-room hotel in Bhubaneswar under the Welcomhotel brand.

With these two new signings, the Welcomhotel portfolio now comprises 51 hotels with more than 5,500 keys, including 30 operational properties and 21 in the pipeline, the hotel chain said in a statement.

Over the past 12 months, Welcomhotel has signed properties across 16 locations, including Ayodhya, Sarnath, Vrindavan, Bodh Gaya, Jaipur, Salasar, Rajkot, Mysuru, Nellore, and Mohali, among others.

Upcoming destinations for the brand include Gangtok, as well as properties in Bhopal and Gwalior, the company said.

2030 plan

In July 2025, ITC Hotels, in its annual report, said it was aiming at expanding its portfolio to over 220 operating units with more than 20,000 keys by 2030.

According to the annual report for 2024-25, the company plans to accelerate its growth through management contracts and franchise arrangements.

Approximately 70% of the keys are being operated under management contracts, including franchising, it said.

Spun into a separate entity after the demerger from ITC Limited, the company owns brands like ITC Hotels, Mementos, WelcomHotel, Storii, Fortune, and WelcomHeritage.