Samhi Hotels subsidiary leases 162-room upscale hotel in Noida

SAMHI Hotels Limited's wholly-owned subsidiary, SAMHI Skyline Private Limited, has executed a long-term lease/sub-lease agreement with INGKA Centres India Private Limited. This agreement is for a ~162-room upscale hotel, which will be developed as part of a mixed-use development in Noida, Uttar Pradesh. The estimated built-up area for the hotel is 15,022 square meters. SAMHI Skyline will take possession for hotel fit-outs and branding once INGKA Centres completes the construction. The hotel will operate under an international brand, and the rent payable by SAMHI Skyline will be calculated as a percentage of the net revenue generated from hotel operations. This transaction aligns with SAMHI's capital-efficient growth strategy and aims to densify its presence in core markets.