The Indian Hotels Company Ltd (IHCL) has entered into a share purchase agreement to acquire about a 51% stake in Jaipur-based Brij Hospitality Pvt. Ltd. for ₹225 crore.

IHCL said the acquisition is aimed at expanding the boutique leisure segment across India while pursuing its capital-light growth strategy.

The acquisition will be undertaken directly or through step-down subsidiaries ANK Hotels Pvt. Ltd. and Pride Hospitality Pvt. Ltd., adding 22 hotels to IHCL’s portfolio. Subject to customary conditions, the transaction is expected to be completed by March 31, 2026, the company said in a regulatory filing.

Brij Hospitality operates hotel assets under the Brij brand and has a portfolio of 22 hotels, of which 11 are operational under the Brij Anayra, BrijRama Palace and Brij Bageecha brands across Dharamshala, Nainital, Varanasi, Jaipur, Goa, Pali, Dalhousie, Bandhavgarh and Jawai. The company reported a turnover of ₹62 crore in FY25.

The transaction is at arm’s length, as one of the seller shareholders of Brij is related to a director of Pride, an IHCL step-down subsidiary.