The luxury 5-star Park Hyatt Goa Resort and Spa at Cansaulim, Goa will cease to operate from today, following an acquisition by ITC Ltd. The 45-acre beachfront property comprising 252 rooms will be closed for renovations. ITC bought the property from its owners, Blue Coast Hotels, through an auction held by IFCI (erstwhile Industrial Finance Corporation of India) for Rs 541 crore in 2015, a transaction upheld by Supreme Court in its March 19 judgement.

as per a report in TOI, SC has ordered Blue Coast Hotels to vacate the sprawling property by Tuesday. “We anticipate a change in the hotel’s ownership and management on September 19, pursuant to the Hon’ble SC’s order. The hotel is expected to no longer be affiliated with Hyatt,” said an official of Park Hyatt Goa to TOI. “Reservations for stays, conferences or other functions beyond September 18 are no longer being accepted.”

ITC will run the resort under the ITC Grand brand but a timeline for its relaunch is uncertain