Goldman Sachs Invests Rs 441 Crores in SAMHI Hotels

By BW Hotelier SAMHI HOTELS Pvt. Ltd. has announced today that it has received an investment of Rs 441 crores from Goldman Sachs, a global investment bank. SAMHI Hotels will utilise the funds to expand its footprint through acquisitions across India. Ashish Jakhanwala, Founder & CEO of SAMHI Hotels, (see photo) said, ’This investment from Goldman Sachs, an experienced investor in India, will accelerate our firm’s platform across the country and catalyze further acquisition-led growth.’ Sonjoy Chatterjee, Chairman, Goldman Sachs India, said, ’On the back of reform momentum, India is witnessing a steady recovery in economic activity driven by domestic demand. We anticipate this to lead to an upturn in the hotel sector. This investment is consistent with our strategy to invest in sectors and infrastructure that assist in the continued growth and development of India.’ Goldman Sachs is an active investor in India, where the firm has deployed more than USD 2.5 billion since 2006. Established in 2011, SAMHI Hotels specializes in development, acquisition and ownership of branded hotels which are located in prime markets and locations throughout India. Partnering financially with global hotel groups, such as Marriott and Accor, and operators, such as Starwood Hotels and Hyatt International, SAMHI Hotels owns 16 hotels operating under brands that include Courtyard by Marriott, Hyatt Place, Fairfield by Marriott, Four Points by Sheraton and Formule1 as of December 2015. Currently, 10 additional hotels are under advance stages of development and are due to open in the next 12 to 18 months, which will equal a collective nationwide footprint of 26 hotels with 3,900 rooms under five brands in 12 cities.