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The Tata Group's Indian Hotels Company Ltd (IHCL) has signed agreements to acquire 51 % stakes in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd, which operate 135 hotels under the Clarks Hotels & Resorts brand. The deal involves a cash investment of up to INR 110 crore for ANK Hotels and INR 94 crore for Pride Hospitality. IHCL has also entered a distribution and marketing agreement with Brij Hospitality, adding 19 more hotels to its network. The move aligns with IHCL's asset-light strategy and expands its reach in India's mid-scale segment.
Tata Group-owned Indian Hotels Company Ltd has approved and executed agreements to acquire 51 % stakes in two hotel operating companies ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd. The acquisition will bring 135 hotels under the Clarks Hotels & Resorts brand into IHCL's portfolio. The agreements cover share subscription, purchase, and shareholder rights, with a cash consideration capped at INR 110 crore for ANK Hotels and INR 94 crore for Pride Hospitality. Advertisement
As per regulatory filings, the acquisition is expected to conclude once certain conditions are met. This expansion targets India's diverse mid-scale market and will provide IHCL with deeper geographical penetration while continuing its asset-light growth approach. Many Clarks Hotels properties are likely to be integrated into IHCL's Ginger brand, further boosting its mid-scale offerings.
ANK Hotels, founded in 1996 and headquartered in Lucknow, operates 67 hotels out of a total portfolio of 111 across India and Sri Lanka. Pride Hospitality, set up in 2005 in Jaipur, manages 13 operational properties from its 24-hotel portfolio. Combined, the companies operate hotels under brands such as Clarks Inn, Clarks Inn Suites, Clarks Inn Premier, Clarks Safari, Clarks Collection, and Clarks Resort.
Alongside these acquisitions, IHCL has signed a distribution and marketing agreement with Brij Hospitality Pvt Ltd, which operates 19 boutique hotels under the Brij brand across the country. This tie-up is expected to enhance IHCL's reach in niche leisure and heritage destinations.
Following the announcement, IHCL's shares gained around 1.65 % to trade at INR 759 on the BSE, reflecting a positive market reaction to the company's latest expansion move.
Source PTI
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