IHCL increases its India midscale position

MUMBAI, India – Indian Hotels Co. Ltd. is increasing its penetration in India’s midscale segment by 240-plus hotels by signing an agreement to acquire controlling stakes in ANK Hotels Pvt. Ltd. and Pride Hospitality Pvt. Ltd. for an aggregate amount of up to ₹204 crore. Both companies operate under The Clarks Hotels & Resorts brand and these hotels are on capital light arrangements of management contracts and select operating leases.

For a 51% equity stake in ANK, IHCL has executed a share subscription and purchase agreement. The amount for this transaction is ₹100 crore.

ANK Hotels, founded in 1996 and headquartered in Lucknow, operates 111 mid-scale properties, with 67 currently open across India and in Sri Lanka.

IHCL’s  51% stake in Pride Hospitality will carry a price tag of ₹94 crore.

Based in Jaipur and established in 2005, Pride runs 24 hotels under the Clarks Hotels umbrella, 13 of which are currently operational.

Both transactions are expected to close by November 15, 2025, and will give IHCL more than 550 hotels.

IHCL also entered into a distribution and marketing agreement with Brij Hospitality Pvt. Ltd., operators of 19 luxury boutique hotels under the Brij brand within India.

The key managerial personnel of ANK, Pride and Brij Hospitality will continue to oversee the running of the respective companies.

“The outlook for the sector remains buoyant as demand outpaces supply and India continues to be an under-served hospitality market especially in the mid-market segment,” said IHCL Managing Director and CEO Puneet Chhatwal. “Our partnership with ANK, Pride and Brij Hospitality is a multi-pronged approach addressing India’s heterogenous market landscape and is in line with IHCL’s five-year road map ‘Accelerate 2030’ of unlocking India’s tourism potential.”