ITC Hotels to acquire GHK Hospitality for ₹155 crore; shares decline 5%

The company said in a regulatory filing that the transaction will enable ITC Hotels to expand its owned asset portfolio in Ahmedabad across multiple market segments through an existing hotel currently operated under an operating services agreement.

“This value-accretive acquisition provides an opportunity to the Company to capitalize on Ahmedabad’s diversified year-round demand,” ITC Hotels said.

Furthermore, the acquisition of shares is expected to be completed within Q2 of the current fiscal year 2026-27 (FY27).

ITC Hotels said that the enterprise value of the transaction is ₹155 crore on a cash-free, debt-free basis, subject to customary adjustments, for the acquisition of 100% equity share capital of GHK. It added that the investment will be carried out through a combination of primary subscription and secondary purchase of GHK’s equity shares.

GHK is a public limited company engaged in the hospitality business and owns a 130-key hotel, ‘Welcomhotel Ahmedabad’. The firm had reported a steady increase in turnover over the past three financial years, with revenue rising to ₹35.16 crore in FY26 from ₹31.23 crore in FY25 and ₹25.62 crore in FY24.

Q1 FY27 results

Apart from the acquisition, the ITC Hotels board also declared its Q1 FY27 earnings. The consolidated net profit attributable to the owners of the company surged 35% to ₹180.25 crore for the quarter ended June 30, 2026, compared year-on-year with ₹133.10 crore in the same period a year ago.

The company’s revenue from core operations advanced 18% YoY to ₹963 crore in the first quarter of the fiscal year ended 2026-27, compared with ₹815.54 crore in the same period a year earlier.

ITC Hotels share price trends

At 2:25 PM, ITC Hotels shares were trading at ₹174.30 apiece on the National Stock Exchange, declining 5.01%. The stock had slipped to an intraday level of ₹174 per share.

From the beginning of the year, ITC Hotels shares have tumbled 11%. For a six-month period, the stock has declined 6%.

Shares of the company had touched their one-year high of ₹261.62 apiece on July 21, 2025, while their 52-week low of ₹137.30 was hit on March 30, 2026.

ITC Hotels has a total market capitalisation of ₹36,383.35 crore as of July 16, 2026, according to data on the NSE.