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IHCL acquires 51% stake in Clarks Hotels & Resorts for ₹214 crore
The two companies are ANK Hotels Private Limited, which has a portfolio of 111 midscale hotels, and Pride Hospitality Private Limited, which operates 24 hotels across India. IHCL will acquire a majority shareholding in ANK Hotels for Rs 110 crore and in Pride Hospitality for Rs 94 crore. The transactions are expected to be completed by November this year.
'The transactions aim to address India's heterogeneous market landscape and provide deeper geographical penetration across India in the midscale segment while continuing to pursue its asset-light growth strategy,' IHCL said in its BSE filing on Monday evening. The announcement was made after market hours. India's largest hospitality firm by market capitalisation, at Rs 1.06 trillion, saw its shares rise by 1.65 per cent to close at Rs 746.65 on the BSE.
ANK Hotels operates and manages properties under The Clarks Hotels & Resorts umbrella, which includes the Clarks Inn, Clarks Inn Suites, and Clarks Inn Premier brands. Of its 111 hotels, 67 are operational. The company reported a turnover of Rs 14.32 crore in FY25.
Pride Hospitality manages Clarks Safari, Clarks Collection, and Clarks Resort, which also fall under The Clarks Hotels & Resorts portfolio. Of its 24 midscale hotels, 13 are operational. The company posted a turnover of Rs 18.94 crore in FY25.
In addition, IHCL signed a distribution and marketing agreement with Brij Hospitality Private Limited, which has a portfolio of 19 hotels under the Brij brand, primarily across India.
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