GIC Buys 35% Stake in Five Samhi Hotels

Singapore’s sovereign wealth fund GIC has acquired a 35% stake in five hotel assets owned by India’s Samhi Hotels for ₹752 crore ($88.1 million), with an additional ₹149 crore earmarked for renovations, especially at the Trinity property and a forthcoming Westin hotel in Bengaluru. This transaction is part of a broader joint venture aiming to invest up to $300 million in upscale hotel development across India. The seed assets, located in Bengaluru and Pune, encompass over 1,000 rooms and are valued at about ₹2,200 crore. Samhi plans to use most of the proceeds to reduce debt by approximately ₹580 crore, improving its net debt-to-EBITDA ratio and projecting a 15–20% increase in profit after tax. Samhi will continue to operate and manage these hotels, working with GIC to accelerate growth and pursue future acquisitions. The deal announcement led to a surge of up to 13% in Samhi’s share price.