TTT NEWS NETWORK
GURUGRAM, 11 FEBRUARY 2025:
SAMHI Hotels Limited a prominent branded hotel ownership and asset management platform in India, announced the sale of 100% of their ownership in Duet India Hotels (Chennai OMR) Pvt. Ltd. (“Subsidiary”) for a consideration of ~INR 535 million. The Subsidiary was acquired as part of the ACIC Portfolio and owned 116 rooms at Four Points by Sheraton, Chennai OMR.
For the nine-month period ending 31st December 2024, the subsidiary reported a total revenue of ~INR 110 million, EBITDA of ~INR 23 million and a Net Loss of ~INR 33 million.
Commenting on the transaction, Ashish Jakhanwala CEO & Managing Director said, “We are pleased to announce the successful completion of this transaction, which is an important step in executing our capital recycling strategy. The immediate application of the capital will be focused on reducing our debt thereby enabling us to strengthen our balance sheet. By reducing our debt, we create the capacity to redirect capital towards the announced pipeline of high-growth opportunities in our core markets of Hyderabad, Bengaluru, and Pune.
We remain confident that this strategy will generate superior returns over the long term and significantly transform our portfolio, reinforcing our commitment to delivering long-term value to our stakeholders”
About SAMHI Hotels Ltd:
SAMHI is a prominent branded hotel ownership and asset management platform in India with an institutional ownership model, experienced leadership and professional management team. SAMHI has long-term management arrangement with three of the established and well recognized global hotel operators, namely, Marriott, IHG and Hyatt. SAMHI has a portfolio of 32 operating hotels comprising 4,943 keys and has a diverse geographic presence in 13 cities across India, including National Capital Region (NCR), Bengaluru, Hyderabad, Chennai and Pune.
Forward-looking and Cautionary Statements:
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
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