Gurugram, October 4, 2024: SAMHI Hotels Limited (BSE: 543984; NSE: SAMHI), a leading branded hotel ownership and asset management platform in India, has announced the completion of a significant acquisition of Innmar Tourism and Hotels Private Limited (ITHPL). The acquisition includes an operating hotel with 142 rooms located in Whitefield, Bengaluru, one of India’s key commercial hubs. This strategic purchase is set to strengthen SAMHI’s presence in Bengaluru and includes an additional opportunity for expansion to add a second hotel with 200-220 rooms, bringing the total inventory to approximately 340-360 rooms in the Upper Upscale & Upscale segment.
This acquisition aligns with SAMHI’s strategic focus on high-growth markets. Bengaluru, recognized as India’s largest and fastest-growing office market, is a critical location for SAMHI, which already owns and operates six hotels with a total of 918 rooms in the city. The addition of 142 rooms from the newly acquired hotel will further enhance SAMHI’s portfolio, with the expansion slated to increase the inventory to a significant 340-360 rooms. These hotels will be managed under premium brands, currently being finalized with a renowned international operator.
Strategic Expansion and Market Presence
The Whitefield acquisition not only marks SAMHI’s expansion in Bengaluru but also introduces its second “twin hotel complex” model. The first such complex, comprising 336 rooms under the Courtyard by Marriott and Fairfield by Marriott brands, is located in Outer Ring Road (ORR), Bengaluru. The twin-hotel complex strategy enables SAMHI to cater to a broader customer base and enhance operational efficiencies.
Details of the Acquisition
The purchase consideration for this acquisition is estimated at ₹2,050 million (Enterprise Value), subject to adjustments for net current assets, including cash and other working capital components. The acquisition is being fully funded through SAMHI’s internal accruals, demonstrating the company’s robust financial position and commitment to expanding its footprint in high-potential markets. Upon completion, ITHPL will become a wholly-owned subsidiary of SAMHI Hotels Ltd.
Expanding Hospitality Footprint
The Whitefield property’s strong performance in the Upper Upscale & Upscale segment is expected to significantly boost the same-store growth of SAMHI’s existing portfolio upon completion of the renovation and proposed expansion. This development reaffirms SAMHI’s leadership in providing high-quality hospitality solutions in major business districts and complements its current strategy to invest in high-growth markets.
About SAMHI Hotels Ltd.
SAMHI Hotels Limited is a prominent branded hotel ownership and asset management platform in India, known for its institutional ownership model, experienced leadership, and professional management team. The company has long-term management arrangements with three of the world’s most recognized hotel operators: Marriott, IHG, and Hyatt. SAMHI’s portfolio comprises 32 operating hotels with 4,943 keys, spanning 13 cities across India, including major metropolitan regions such as the National Capital Region (NCR), Bengaluru, Hyderabad, Chennai, and Pune. The company is focused on delivering value through its operational excellence and strategic growth initiatives, positioning itself as a leading player in India’s hospitality sector.
With this latest acquisition, SAMHI is well poised to further solidify its position as a key player in the Indian hospitality market, while enhancing its brand presence and offering a world-class guest experience across its properties.
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