Singapore Wealth Fund Bets Big on India Again With $300 Million SAMHI Hotels Joint Venture
International news
With the economy stabilizing and leisure and business travel bouncing back, investors like GIC are betting big on the “next wave” of premium hotel demand. The SAMHI deal signals not just confidence in the sector, but in the evolving Indian traveler.
Singapore’s sovereign wealth fund GIC is set to deepen its presence in India’s hospitality sector through a new joint venture with hotel ownership and asset management platform SAMHI Hotels.
With an equity investment plan of up to $300 million, the partnership will focus on developing upscale and premium hotels across key Indian cities, according to a regulatory filing made by SAMHI Hotels on Thursday.
As part of the agreement, GIC will acquire a 35% stake in three SAMHI subsidiaries — Ascent Hotels, Innmar Tourism and Hotels, and SAMHI JV Business Hotels — for INR 7.5 billion ($88 million), valuing the combined enterprise at INR 22 billion ($257.8 million).