ITC Hotels Limited
GQG Partners sold 1,28,87,559 shares of ITC Hotels for ₹196.75 crore at ₹152.67 apiece in a bulk deal. This reduced GQG Partners' stake in ITC Hotels from 1.97% to 1.35%, a 0.62% stake change.
A hospitality company that operates and manages hotels across over 90 destinations in India and internationally. ITC Hotels runs properties under multiple brands including ITC Hotels, WelcomHotel, Fortune, Welcome Heritage, Mementos, and Epiq Collection Storii, with most hotels operated under a franchise agreement with Marriott International's The Luxury Collection. The company serves leisure and business travelers through diverse hotel formats catering to varying price segments and customer preferences.
Florida-based global active manager founded in 2016 by Rajiv Jain (ex-Vontobel) and Tim Carver. Manages USD 150 bn+, with the EM Equity fund alone at USD 23 bn (Sep 2024). India is the top country weight in GQG's EM strategy with nearly USD 10 bn deployed in Indian equities including big names in financials, energy and infrastructure. Jain's quality-growth playbook has made GQG one of the most-watched buyers on the street.