ITC Hotels to get its first five-star property in Goa.,

ITC Ltd's hotel division may soon be able to get its first luxury property in Goa, one of India's top tourism destinations. It's close to acquiring the Ramada Caravela Beach Resort from Advani Hotels & Resorts at a cost of Rs. 700 crore, according to people with direct knowledge of the negotiations.

The 199-room, five-star deluxe hotel, which had a third of its rooms renovated in October last year, is managed by US headquartered Wyndham Worldwide. ITC declined to comment. 'As a policy we refrain from commenting on speculation related to the future plans of the organization,' a spokesman of ITC said.

Asenior Advani Hotels executive also declined to comment. The property gives ITC the opportunity to take over a readymade hotel in a state where getting land for new projects hasn't been easy, according to experts.


ET