Indian hospitality group Sterling Holiday Resorts has agreed a deal to acquire Mumbai-based Nature Trails for an undisclosed amount.
Thomas Cook (India) subsidiary Sterling will take over Nature Trails’ portfolio of five resorts in Western India to target the growing adventure tourism sector.
Nature Trails operates resorts which offer trekking, camping and river rafting.
"The funding for the acquisition has been done through internal accruals. The acquisition would add to our 24 resorts and ability to offer adventure holidays,” said Ramesh Ramanathan, managing director of Sterling Holiday Resorts.
"We are debt-free now and will not rule out further acquisitions. Apart from adventure tourism, there could be new areas like jungle tourism and safaris that we could look at in the future," Ramanathan added.
Sterling has already announced tentative plans to branch out overseas with potential projects being considered in Thailand, Malaysia, Sri Lanka and West Asia.
The Nature Trails brand will continue to operate independently and retain its senior management team.
