Singapore’s GIC to infuse $88 million into Samhi Hotels

Singaporean sovereign wealth fund GIC will invest ₹752 crore ($88 million) in three hotels owned by Samhi Hotels’ subsidiaries–Courtyard by Marriott and Fairfield Inn by Marriott on Bengaluru’s Outer Ring Road, and Hyatt Regency in Pune.

The investment also covers the recently acquired Trinity hotel portfolio in Whitefield, Bengaluru.

GIC will take a 35% minority stake in these subsidiaries, which together operate about 1,000 rooms.

Of the total amount, ₹693 crore will be used to reduce Samhi Hotels’ debt. A small portion will go toward transaction costs.

In addition, GIC will invest ₹149 crore over the next two years to fund capital expenses for a dual-branded hotel under the Trinity portfolio, which will feature Tribute Hotel and a new Westin hotel in Whitefield.

“This will help us strengthen our balance sheet,” said Ashish Jakhanwala, CEO and managing director of Samhi Hotels. “This partnership gives us tremendous firepower to grow. GIC will bring institutional capabilities for us to benefit from.”

The deal is expected to reduce Samhi Hotels’ debt by ₹580 crore. The company also anticipates a 15-20% rise in profit after tax.

Samhi Hotels has strong ties with top global hotel brands like Marriott, IHG, and Hyatt. Its portfolio includes 31 hotels with 4,823 rooms, spread across 13 cities in India, including Delhi, Bengaluru, Hyderabad, Chennai, and Pune.