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ITC Acquires Park Hyatt Goa Resort and Spa and to be renamed as ITC Grand Goa

ITC Acquires Park Hyatt Goa Resort and Spa and to be renamed as ITC Grand Goa

Luxury Hotels and Resorts operator ITC has been in now controlling position of the Park Hyatt Goa Resort and Spa at Cansaulim.

The cigarettes-to-hotels conglomerate had obtained the 252-room resort for Rs 541 crore from asset holding company Blue Coast Hotels through an auction held by the Industrial Finance Corporation of India (IFCI) in 2015.

In the start of 2018, the acquisition deal was upheld by the Supreme Court in its March 19 judgment, because of which Blue Coast needed to vacate the 45-acre beach-side property on Tuesday, September 18, 2018.

Nakul Anand, executive director, ITC, said this has been a long-awaited destination for ITC and a great opportunity to be integrated into the multi-faceted culture and ethos of Goa.

“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 in a statement on Wednesday.

The sprawling property is set to experience minor renovations over the coming weeks. This is being done to conform to all the ITC’s sustainability practices, subsequently conveying the best extravagance experience to clients, the organization said.
As for the future of 200-odd existing employees of Park Hyatt Goa, ITC is very likely to absorb them going forward. “We are not asking any existing employee to leave and are happy to onboard them on our payrolls,” said Anand.

With the business season set to begin from October going ahead till early January 2019, staffing the spa resort will be exceptionally urgent to guarantee there is should be no delay or problems in business operations.

ITC is among India’s driving luxury hotel network provider with a gathering of more than hotels in over 70 destinations. It operates Hotel chain under four brands – Luxury ITC Hotels, WelcomHotel in the five-star segment, Fortune in the mid-market to upscale segment and WelcomHeritage under the heritage leisure segment.

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