Indian Hotels acquires ELEL Hotels & Investments from Nanda family

Tata Group-owned hospitality major Indian Hotels Company on Wednesday announced that it has acquired 100 per cent shareholding in ELEL Hotels & Investments from the Nanda family.

The announcement came after Indian Hotels Company in July 2020 had inked a pact to acquire the remaining 14.28 per cent stake in ELEL Hotels and Investment.

“Further to our letters dated November 11, 2019 and July 21, 2020, respectively, we are pleased to confirm that consequent to acquisition of balance 14.28 per cent equity stake in ELEL Hotels and Investments Ltd (ELEL), ELEL.(holding the leasehold rights of the erstwhile Sea Rock hotel) has become a wholly owned subsidiary of the company effective December 28, 2021." the hospitality major stated in a regulatory filing.

Earlier in July this year, IHCL had announced the opening of a collection of seven heritage Tea Estate bungalows in Munnar under its 'ama Stays and Trailsportfolio.' Located in the Kanan Devan Hills, on an estate spanning over 58,000 acres, the seven original tea planters' bungalows offer an experience like no other, IHCL had said.