Gujarat Hotels Share Price

Promoted by Gujarat Industrial Investment Corporation and ITC, Gujarat Hotels Limited was incorporated in August, 1982, which acquired its present name in 1985. The Company owns the Welcome Hotel Vadodara in Vadodara, operated by ITC Limited under an Operating Licence Agreement. ITC Hotels holds a sub50% stake in the Company, establishing it as an associate entity. The company set up the first and only five star hotel Welcomgroup, Vadodara in 1986, with a capacity of 144 rooms. In 1992, the company jointly formulated a rehabilitation package alongwith the Government of Gujarat, and the financial institutions, since the company was incurring losses. In accordance to the rehablilitation package, the hotel was given on an Operating License to ITC from Oct.92. After the fullimplementation of the rehabilitation package, the company, in 199394, made a net profit for the first time.As a part of its restructuring exercise, ITC assigned the Operating License agreement with the company to ITC Hotels with effect from Oct.94. During the year 200405, resulting upon amalgamation of ITC Hotels Limited with ITC Limited, ITC Limited became the Operating Licencee of Companys hotel viz., WelcomHotel Vadodara effective from 23rd March, 2005. The business showed improvement in the hospitality sector with the arrival of foreign tourist in 2019. The Peshawri Restaurant the Welcomcafe Cambay became the leaders in premium dining in 2022.The Honble National Company Law Tribunal, Kolkata Bench, vide Order dated 4th October, 2024, sanctioned the Scheme of Arrangement amongst ITC Limited and ITC Hotels Limited and their respective shareholders and creditors under Sections 230 to 232 read with the other applicable provisions of the Companies Act, 2013 for demerger of the Hotels Business of ITC into ITCHL. The Hotels Business and the investments held by the ITC in Hospitality entities have been transferred to ITCHL, making the Scheme of Demerger effective from January 1, 2025.