ITC bought the Park Hyatt property from its owners Blue Coast Hotels through an auction held by IFCI (the erstwhile Industrial Finance Corporation of India) for Rs 541 crore in 2015 which they finally converted to ITC Grand Goa Resort & Spa.

ITC HOTELS announced the opening of ITC Grand Goa, formerly known as the Park Hyatt Goa Resort & Spa on Arossim Beach Cansaulim, South Goa. Being ITC’s 13th luxury hotel in India, ITC Grand Goa is a 252 key resort.  ITC bought the Park Hyatt property from its owners Blue Coast Hotels through an auction held by IFCI (the erstwhile Industrial Finance Corporation of India) for Rs 541 crore in 2015.

The resort offers six signature dining options, include Kebabs & Kurries-showcasing traditional Indian styles of cooking, Tempero (Portuguese: Seasoning) featuring distinct influences in Goan cooking, Ottimo-pan-Italian cuisine and Pavilion at the Market Place-all day dining featuring Indian and inventive international cuisines, The Royal Afghan-a seaside barbecue and grill outlet. Complementing the cuisine showcase is Farol (Portuguese: Lighthouse) the multi-level poolside bar. The resort also offers Kaya Kalp- The Royal Spa which provides signature treatments highlighting traditional Indian and international therapies showcased through 16 spa suites.

Speaking on the occasion, Nakul Anand, Executive Director, ITC Ltd. said, “With this resort, ITC Hotels has expanded its footprint in a globally sought-after leisure destination in Asia. The addition of ITC Grand Goa Resort & Spa to our luxury hotel portfolio further reinforces ITC’s vision to consolidate its portfolio in key business and leisure destinations in the country.”

The company currently operates 107 properties under four distinct brands – 'ITC Hotel' in the luxury segment, 'WelcomHotel' in the upper-upscale segment, 'Fortune' in the mid-market-to-upscale segment, and 'WelcomHeritage' in the leisure and heritage segment.

The company currently has 9,500 rooms across its properties and plans to add another 2,500 rooms in five years to take the total count to 12,000. A total of 24 new properties will be added by ITC, all of which are currently in various stages of construction, and are a mix of managed and owned. However, all the business is saturated within the Indian market.