The property spread across 45 acres is currently undergoing minor renovation to meet ITC's sustainability practises, the company stated.

INDIA’S SECOND-largest hotel chain with over 100 hotels, ITC Hotels has acquired Park Hyatt Goa Resort and Spa.

The property spread across 45 acres is currently undergoing minor renovation to meet ITC's sustainability practises, the company stated.

"ITC is pleased to announce the latest addition to its luxury hotel portfolio in the hospitality landscape of Goa," ITC, Executive Director, Nakul Anand said.

The acquisition is a part of an auction held by Industrial Finance Corporation of India (IFCI) for INR 541 crore in 2015, and upheld by the Supreme Court in its March 19, 2018 judgement, ITC Hotels said in a statement.

ITC Hotels, currently, has a collection of more than 100 hotels in over 70 destinations.

(Source: The New Indian Express)