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ITC Hotels acquires Park Hyatt Goa Resort & Spa as part of IFCI auction
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Wednesday, 03 October, 2018, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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ITC Hotels, India’s leading luxury hotel chain, today announced the successful acquisition of Park Hyatt Goa Resort and Spa. The acquisition is a part of an auction held by the Industrial Finance Corporation of India (IFCI) for Rs 541 crore in 2015, and upheld by the Supreme Court in its March judgment. ITC Hotels is making preparations for the upcoming festive and tourist season. Business continuity remains top priority for the company.
The luxurious Park Hyatt Goa Resort and Spa at Cansaulim, is spread across 45 acre. A beachside property, it is currently under renovation.
Commenting on the chain’s entry into Goa, Nakul Anand, executive director, ITC, said, “ITC is pleased to announce the latest addition to its luxury hotel portfolio in the hospitality landscape of Goa. This has been a long-awaited destination for ITC and we welcome the opportunity to be integrated into the multi-faceted culture and ethos of Goa.”
He added, “The addition is aligned with ITC’s vision of offering world-class Indian hospitality premised on ITC Hotels’ service philosophy of Atithi Devo Bhava. In order to ensure business continuity and seamless transition, the leadership team of ITC Hotels is at hand to support the current team of managers and associates.”
“ITC Hotels has received tremendous support from key officials in the state government to ensure that we can recommence operations at the earliest and support the tourism goals of this great state,” Anand said.
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