Indian Hotels Company Ltd., the parent company of Taj Hotels, announced that it had acquired a 51% controlling stake in ANK Hotels and Pride Hospitality. These two companies operate together 135 hotels within The Clarks Hotels and Resorts. IHCL signed a distribution and marketing agreement with Brij, a boutique hotel chain that has heritage and leisure properties.
Ankur Dalwani (CFO) said the total amount invested is more than INR 2 billion (23 million dollars), which was split between INR 1,1 billion ($12,5 million) by ANK and INR 9,40 million ($10,5 million) by Pride. Around 80% of funds will be paid directly to the companies for renovations and upgrades. Some hotels may also switch from management contracts to revenue sharing models.
IHCL will oversee the management of both companies. IHCl expects that the deal will close before fiscal year 2027.
Acquisitions are a good way to get started.
