Our Bureau
Singapore
Singapore’s sovereign wealth fund, GIC, is significantly expanding its investments in India’s hospitality sector through a $300 million joint venture with SAMHI Hotels, an Indian hotel ownership and asset management platform. The partnership aims to develop upscale and premium hotels in key Indian cities.
GIC will acquire a 35% stake in three SAMHI subsidiaries for INR 7.5 billion ($88 million), valuing the combined enterprise at INR 22 billion ($257.8 million). The joint venture will initially include four properties: Hyatt Regency Pune, Courtyard by Marriott and Fairfield by Marriott in Bengaluru, and Trinity Hotel (Bengaluru), which is being converted into a Marriott Tribute Portfolio hotel. GIC already holds an 8% stake in SAMHI Hotels.
Approximately INR 6 billion ($70.6 million) of the invested capital will be used to reduce debt and cover transaction expenses, while INR 1.4 billion ($17.46 million) is allocated for developing a dual-branded Westin and Tribute Portfolio property in Bengaluru over the next two years. SAMHI expects the investment to significantly strengthen its balance sheet, reduce debt by around INR 5.8 billion ($67.95 million), and boost profit after tax to an estimated 15–20%.
SAMHI operates 31 hotels with 4,823 rooms across 13 Indian cities. Earlier this year, it sold its subsidiary Duet India Hotels to Greenpark Hotels and Resorts for INR 5.3 billion ($62.6 million) and reported a net profit of INR 228 million ($2.67 million) for the third quarter of fiscal year 2025, a turnaround from a net loss of INR 744 million the previous year.
