ITC Ltd is reportedly planning to acquire the Ramada Caravela Beach
Resort from Advani Hotels & Resorts at a cost of Rs 700 crore, according to reports.
Report stated that the 199-room, five-star deluxe hotel, which had a third of its rooms renovated in October last year, is managed by US headquartered Wyndham Worldwide.
"As a policy we refrain from commenting on speculation related to the future plans of the organization," ITC reportedly said.
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