IHCL acquires controlling stake in Clarks Hotels & Resorts for ₹204 crore.

The Indian Hotels Company Ltd (IHCL) has announced a significant acquisition, taking over the mid-scale hotel brand Clarks Hotels & Resorts in a deal valued at ₹204 crore. This strategic move is set to strengthen IHCL's footprint in the competitive Indian hospitality market, particularly within the mid-scale segment.

As part of the transaction, IHCL will acquire a 51% stake in two key entities: ANK Hotels Private Ltd and Pride Hospitality Private Ltd. Together, these companies manage a portfolio of 135 hotels operating under the Clarks brand.

In a filing with the stock exchange on Monday, IHCL stated that the acquisition is aimed at "addressing India’s heterogenous market landscape" and achieving a deeper penetration into the mid-scale hotel segment across the country. The move highlights IHCL's strategy to expand its diverse offerings and tap into a broader customer base beyond its luxury and premium properties.