Samhi Hotels Acquires Innmar Tourism and Hotels for INR 2,050 Million, Expanding to 340-360 Rooms in Bengaluru
Samhi Hotels Ltd has completed the execution of a Share Purchase Agreement with Innmar Tourism and Hotels Private Limited, which owns a 142-room operating hotel in Whitefield, Bengaluru. The enterprise value of Innmar Tourism and Hotels is set at approximately INR 2,050 million, adjusted for net current assets, including cash and other working capital. The existing hotel will be renovated and rebranded, with advance discussions held with an International Operator for an Upscale brand. Additionally, there is an opportunity to add a second hotel with 200-220 rooms, taking the total inventory to 340-360 rooms in the Upper Upscale & Upscale segment. This acquisition aligns with SAMHI's strategy of acquiring assets in core office markets with stable and strong growth prospects.
Key Highlights
- Acquisition of Innmar Tourism and Hotels Private Limited for INR 2,050 million, adjusted for net current assets
- Addition of 142 rooms to SAMHI's portfolio on an immediate basis
- Existing hotel to be renovated and rebranded with an International Operator for an Upscale brand
- Potential addition of 200-220 rooms under an Upper Upscale brand
- Total of 340-360 rooms to be added, all in the Upper Upscale & Upscale segment
- Significant upside in existing hotel and further upside with addition of 200-220 rooms
- Acquisition in line with SAMHI's strategy of acquiring assets in core office markets with stable growth prospects