IHCL acquires 51% stake for INR204 crores expansion

Indian Hotels Company Limited invested INR204 crores to acquire a 51% stake in ANK and Pride, bringing 135 hotels under the Clarks brand into its portfolio.

Most properties will be repositioned as Ginger hotels, adding nearly 7,000 keys across over 100 locations. The company has identified 8-10 properties for conversion from management contracts to revenue-share models.

IHCL projects the acquired portfolio could generate INR100 crores in revenue and INR60 crores in consolidated EBITDA by FY '30, including INR20 crores in fees.