In a significant move, ITC has acquired a 2.44% stake in EIH and a 0.53% stake in Leela Hospitality, further cementing its presence in the Indian hospitality sector.
ItcEihLeela HospitalityHospitality SectorStrategic AcquisitionReal Estate MumbaiDec 19, 2024
ITC has acquired a 2.44% stake in EIH and a 0.53% stake in Leela Hospitality.
The acquisition is significant as it strengthens ITC's presence in the Indian hospitality sector, diversifies its portfolio, and enhances its competitive edge in the luxury and premium travel market.
The market has responded positively, with share prices of EIH and Leela Hospitality seeing an uptick, indicating investor confidence in the potential synergies and growth opportunities.
ITC plans to integrate its operations with EIH and Leela Hospitality to maximize synergies, enhance offerings, and drive growth in the hospitality sector.
The key players mentioned are ITC, EIH (East India Hotels, owners of the Taj Group of Hotels), and Leela Hospitality, a leading luxury boutique hotel chain.
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