Midscale play: Taj owner to buy 51% in Clarks for Rs 204 crore

The Indian Hotels Company (IHCL) is expanding its presence in India's growing hospitality market by acquiring a controlling stake in Clarks, adding 135 properties to its portfolio. This strategic move, costing Rs 204 crore, includes acquiring 51% each in ANK Hotels and Pride Hospitality. IHCL has also partnered with Brij Hospitality to enhance its midscale offerings and asset-light growth strategy.