IHCL Buys 51% in ANK Hotels and Pride Hospitality

IHCL, India’s largest hospitality firm, entered into agreements to acquire a 51 percent stake in ANK Hotels Pvt Ltd (investment of around $12.5 million) and a similar stake in Pride Hospitality Pvt Ltd (around $10.7 million).

IHCL also signed a distribution and marketing agreement with Brij Hospitality Pvt Ltd.

Following the deals, IHCL’s total portfolio will exceed 550 hotels with 55,000 rooms, while its midscale segment will double in size to more than 240 properties.

Combined, ANK and Pride operate 135 midscale hotels across 110 locations, while Brij Hospitality adds 19 boutique hotels, strengthening IHCL’s presence in the experiential leisure sector.

The agreements align with IHCL’s "Accelerate 2030" initiative, focusing on mid-market segment expansion.

This summer, there has been a series of initiatives in India aimed at strengthening its tourism sector, including Radisson Hotel Group’s launch of Radisson Flights and MakeMyTrip’s roll out of new Tours & Attractions Booking Platform.

Photo by Aniket Bhattacharya on Unsplash