ITC Hotels Ltd

ITC Hotels Ltd closes trading window from 1st October, 2026 for Designated Persons and their Immediate Relatives; will reopen after 48 hours from the announcement of the Unaudited Financial Results for the Quarter and Six Months ending on 30th September, 2026.

Allotment Details

• Allotment of 58,655 equity shares on 22 September 2026 under SPES.
• Options exercised totaled 5,865.5 by optionees.
• Paid-up capital after allotment stands at ₹2,08,30,64,424 across 2,08,30,64,424 shares.

Meeting Details

• Date: 24 September 2026; Non-Deal Roadshow, one-on-one, physical in Hong Kong; company representatives to attend.

Investor conferences

• 18 Sep 2026, Gurugram: Jefferies 5th India Forum; Organizer: Jefferies India Pvt Ltd; Attendees: Company representatives.
• 21 Sep 2026, Mumbai: 11th Annual J.P. Morgan India Conference; Mode: Physical; Attendees: Company representatives.
• 22–23 Sep 2026, Hong Kong: 2026 BofA Asia Pacific Conference; Organizer: BofA Securities India; Attendees: Company representatives.

Target & rationale

• Target: GHK Hospitality & Infrastructures Limited; hospitality sector, Ahmedabad-based, India.
• Purpose: expand ITC's owned asset portfolio in Ahmedabad via established hotel.
• Industry/sector: Hospitality.
• Not a related party transaction.
• Regulatory approvals: None required.

Deal terms

• Acquisition completed: 1 September 2026; 100% shareholding.
• Consideration: cash; enterprise value ₹155 crore; subject to adjustments.
• Shareholding: 2,82,27,741 equity shares (primary 1,54,54,545; secondary 1,27,73,196).

Target background

• Background: public limited company; Welcomhotel Ahmedabad (130 keys); registered in Ahmedabad, Gujarat, India.
• Date of incorporation: 10 May 2007.
• Last three years turnover (audited): 2023-24 ₹25.62 cr; 2024-25 ₹31.23 cr.
• 2025-26 turnover ₹35.16 cr.

Deal timeline & size

• Completion date: 1 September 2026; 100% acquisition.
• Enterprise value: ₹155 crore on a cash-free, debt-free basis.

Meeting Details

• Date and place: 19 August 2026, Mumbai.
• Mode: Physical attendance.
• Nature: One-on-one and group meetings.
• Organizer: Motilal Oswal 22nd Annual Global Investor Conference.
• Purpose: Participation in investor conference.

AGM highlights

• Total income for the year increased 19% to over ₹4,331 crore.
• PAT rose 29% year over year.
• 63 hotels signed and 29 opened in the last 24 months.
• Operates world's largest LEED Platinum portfolio with 25 properties.
• LEED Zero Water certification achieved for 13 hotels.
• LEED Zero Carbon certification achieved for 12 properties.
• Pipeline of 78 hotels with over 8,000 keys; target 250 hotels and 22,000 keys in five years.
• Investing in new properties in Puri, Visakhapatnam and Delhi; Bhubaneswar expansion adds ~670 rooms.
• Digital strategy underpins growth with cloud-first architecture, AI and data capabilities.

Director Appointment

• Appointment of Mr. Ramakrishnan Chander as Non-Executive Director for three years, effective 6 August 2026.
• Representing Life Insurance Corporation of India (LIC) at the board.
• 58-year-old MD of LIC; 35+ years in insurance, investments, and strategy.
• Not debarred by SEBI or other authorities; no relationships with other directors.
• Approved at the 3rd AGM held on 6 August 2026.

Financial highlights

• Q1 FY27 consolidated revenue ₹936 crore, up 15% YoY.
• EBITDA ₹292 crore, up 19% YoY.
• PAT ₹182 crore, up 36% YoY.
• Standalone revenue ₹808 crore, up 9%; PAT ₹177 crore, up 18%.

Acquisitions & portfolio expansion

• Kumarakom Resort & Spa acquisition completed; renovation underway; relaunch as ITC Hotels luxury resort by Q3 FY27.
• 8 new signings in Q1; managed portfolio reaches 74 hotels with 7,200+ keys.
• Portfolio aims 22,000+ keys by 2031; dual engines of growth.

Sustainability & operations highlights

• 5 MWp solar plant commissioned; total renewable capacity 52.4 MW.
• LEED certifications: ITC Royal Bengal LEED Zero Water; Welcomhotel Vadodara LEED Platinum.

Governance

• Board approved the Q1 FY27 financial results on 16 July 2026.