Newsletter
Indian Hotels Company Limited (IHCL) is acquiring controlling stakes in two hospitality firms for up to ₹204 crore.
The deets: the two hospitality firms are ANK Hotels Private Limited and Pride Hospitality Private Limited. IHCL will acquire majority shareholding in ANK Hotels for ₹110 crore and in Pride Hospitality for ₹94 crore. The transactions are expected to be completed by November 15 this year.
ANK Hotels Pvt. Ltd., with a portfolio of 111 midscale properties, operates and manages hotels under The Clarks brand. Pride Hospitality Pvt. Ltd. runs 24 hotels across India.
The why: both transactions aim to strengthen IHCL’s presence in India’s midscale segment while reinforcing its asset-light growth strategy. The acquisitions will substantially expand IHCL’s portfolio, as The Clarks Hotels & Resorts operates 135 properties nationwide and Pride Hospitality adds further reach in the midscale market.
