GIC and SAMHI Hotels announce strategic partnership
India, April 24 -- GIC, leading global institutional investor, and SAMHI Hotels have entered into a strategic partnership to establish an investment platform for upscale and higher hotel assets in India.The partnership will be incubated with five of SAMHI's hotels with more than 1,000 rooms (the 'Seed Assets') valued at ~Rs 2,200 crore with GIC acquiring a significant minority stake in the underlying SPVs. The hotels are located in high density office micro-markets in Bengaluru and Pune with favorable demand growth and high barriers to entry for new supply.The Seed Assets include the following hotel assets:- The Hyatt Regency - Pune, Nagar Road ' 301 rooms (with upcoming 22 apartments)- Courtyard by Marriott - Bengaluru, ORR ' 176 rooms- Fa...
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