New Delhi, May 15 -- ITC Hotels is set to acquire luxury resort property 'The Zuri Kumarakom Resort & Spa' in Kerala for an enterprise value of Rs 205 crore, marking the company's first owned resort in the state as ITC Hotels expands its footprint in high-growth leisure destinations.

According to a media statement issued by ITC Hotels on Friday, the company has signed definitive agreements to acquire a 100 per cent stake in Zuri Hotels & Resorts Private Limited (ZHRPL), which owns the resort, on a debt-free and cash-free basis, subject to customary adjustments.

"The acquisition is expected to be consummated over the next few days and will enable ITC Hotels to expand its luxury portfolio in a strategic, high-growth leisure destination - ...