GIC and SAMHI establish joint venture for upscale hotel assets in India
The investment will be used for capital expenditure.
GIC, and SAMHI Hotels Limited, a branded hotel asset management platform, have partnered 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 valued at $339,012.60 (INR 2,200 crores).
The investment will be used for capital expenditure, future acquisitions and to reduce leverage across hotels.
GIC will acquire a significant minority stake in the underlying special-purpose vehicle.
($1=INR64.89)