Indian Hotels Company (IHCL), a hospitality company, has signed a definitive agreement to acquire a controlling stake in ANK Hotels and Pride Hospitality and signed a distribution agreement with Brij Hospitality.
IHCL to acquired a 51% equity stake in ANK Hotels and Pride Hospitality, which operate 135 hotels under the Clarks Hotels and Resorts brand for ₹204 crore.
With many decades of hospitality experience, the promoters of these companies belong to the illustrious Clarks Hotels family. This takes IHCL’s portfolio to over 550 hotels.
ANK Hotels and Pride Hospitality have a portfolio of 135 hotels in the midscale segment spread across 110 locations and are presently operated under The Clarks Hotels & Resorts, which over the next few months will be integrated operationally and migrated to IHCL’s brandscape predominantly under the Ginger brand, among others. These hotels are on a capital-light arrangement of management contracts and select operating leases.
Brij Hospitality has a portfolio of 19 hotels in the experiential leisure segment in India’s unique destinations.
Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL, said, “India’s hospitality sector has witnessed sustained demand momentum over last three consecutive fiscal years, reflective of the country’s growing economic prominence and rising discretionary spends. The outlook for the sector remains buoyant as demand outpaces supply and India continues to be an under-served hospitality market especially in the mid-market segment. Our partnership with ANK, Pride and Brij Hospitality is a multi-pronged approach addressing India’s heterogenous market landscape and is in line with IHCL’s five-year road map ‘Accelerate 2030’ of unlocking India’s tourism potential.”
He added, “Furthering IHCL’s leading presence in the midscale segment with the successful transformation of Ginger, this partnership doubles our portfolio with 240+ hotels addressing the growing needs of the aspirational traveller. Expanding our brandscape, the strong brand equity of Brij hotels in India’s cultural and historical centres extends our offering in the experiential boutique luxury segment. With their rich legacy and hospitality expertise, the key managerial personnel of ANK, Pride and Brij Hospitality will continue to oversee the running of the respective companies, thereby providing business continuity and also enabling future growth of the companies.”
Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL, said, “IHCL will fund this investment through internal accruals given our strong cash flows. The primary investment in the companies will be used for unlocking value in the existing assets and for fuelling future growth opportunities.”
Anoop Kumar, Founder of ANK Hotels, said, “It is with great enthusiasm, that we move forward towards new vistas with India’s largest hotel group. Our forefathers, who sowed the seeds of the hospitality sector in India in 1947, will be proud.”
Aryavir Kumar, Promoter of ANK Hotels, said, “Combining over 200 years of collective hospitality legacy, we come together with IHCL, part of the iconic Tata Group. Together, we are a powerhouse of energy with a shared vision for growth and transformation. This is more than a partnership — it is a union of legacies, ready to inspire the future.”
Anant Apurv Kumar and Udit Kumar, Founders of Brij Hotels and Promoters of Clarks Group of Hotels, jointly said, “Together with IHCL, we carry forward the shared vision of our respective founders, Jamshed Ji Tata and Babu Brijpal Das Ji, in shaping and propelling India’s tourism journey. IHCL’s legacy of showcasing Indian hospitality to the world resonates deeply with our core objective at Brij Hotels – to immerse travellers in the authentic spirit of India’s most storied destinations. Together, we will blend IHCL’s century-old tradition of excellence with our experiential approach, creating journeys that honour our shared heritage, nurture local communities, and reveal to the world the India that we love in its most beautiful and timeless form. We extend our heartfelt gratitude to Mr. Vijay Thacker from Horwath HTL for helping facilitate this strategic alliance.”
