Samhi Hotels has received an investment of Rs 441 crores from Goldman Sachs, a leading global investment bank. Samhi will utilise the funds to expand its footprint through acquisitions across India.
“This investment from Goldman Sachs, an experienced investor in India, will accelerate our firm’s platform across the country and catalyse further acquisition-led growth,” Ashish Jakhanwala, Founder & CEO of Samhi Hotels, said.
Sonjoy Chatterjee, chairman of Goldman Sachs India, said, “On the back of reform momentum, India is witnessing a steady recovery in economic activity driven by domestic demand. We anticipate this to lead to an upturn in the hotel sector. This investment is consistent with our strategy to invest in sectors and infrastructure that assist in the continued growth and development of India.”
Established in 2011, SAMHI Hotels specialises in development, acquisition and ownership of branded hotels which are located in prime markets and locations throughout India. Partnering financially with global hotel groups, such as Marriott and Accor, and operators, such as Starwood Hotels and Hyatt International, SAMHI Hotels owns 16 hotels operating under brands that include Courtyard by Marriott, Hyatt Place, Fairfield by Marriott, Four Points by Sheraton and Formule1 as of December 2015. Today, 10 additional hotels are under advance stages of development and are due to open in the next 12 to 18 months, which will equal a collective nationwide footprint of 26 hotels with 3,900 rooms under five brands in 12 cities.
Goldman Sachs is an active investor in India, where the firm has deployed more than $2.5 billion since 2006.
