ITC Ltd is making waves in the hospitality world as it consolidates stakes in rivals Oberoi and Leela while gearing up for its much-anticipated hotel business demerger in January 2025. The Kolkata-based conglomerate announced on Wednesday that it has acquired additional shares in EIH and HLV Ltd from its wholly-owned subsidiary, Russell Credit Ltd. The deal gives ITC a 16.13% stake in EIH and 8.11% in HLV, strengthening its foothold in India’s luxury hotel sector. The acquisition was made at book value, and ITC’s board had greenlit this consolidation back in October. ITC Hotels is set to become a standalone entity, with January 6, 2025, marked as the record date for ITC shareholders to receive equity shares in the new company. The new entity will take over ITC’s robust hospitality portfolio, which includes premier brands like Bay Islands Hotels, Srinivasa Resorts, and Fortune Park Hotels. While ITC’s shares saw a modest uptick, closing at ₹470.65 on the BSE (up 0.17% on Wednesday), the strategic realignment signals bigger opportunities for investors. By creating a focused entity for its hospitality business, ITC aims to unlock value for shareholders while streamlining operations.