Mumbai, April 24 -- The partnership will be incubated with five of SAMHI's hotels with more than 1,000 rooms (the "Seed Assets") valued at around Rs 2,200 crore with GIC acquiring a significant minority stake in the underlying SPVs that own these hotels.

The transaction involves three key SAMHI subsidiaries that own the Courtyard and Fairfield by Marriott in Bengaluru ORR, Hyatt Regency in Pune, and the recently acquired Trinity Hotel in Whitefield, Bengaluru. GIC will pick up a 35% stake in these subsidiaries with a total investment of approximately Rs 752 crore. Of this, around Rs 603 crore will be infused upfront to reduce SAMHI's debt and cover transaction-related costs, while the remaining Rs 149 crore will be invested over the next...