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Samhi May Purchase a Hotel in Bangalore
Samhi Hotels Pvt. Ltd, an Indian start-up hotel company, has plans concerning the purchase of a 150-guestroom hotel located in the central part of Bangalore. The news came just one week after the company had purchased Royal Orchid Hotel in Ahmadabad. The new hotel company is told to make its property in Bangalore work within next 15-18 months.
The Gurgaon-headquartered company plans to continue its acquisition strategy and wants to minimize development risks by paying attention to cheap valuations. In the nearest plans of the hotelier is the purchase of a series of hotels in 10-15 major cities of India. Samhi Hotels has interest towards either incomplete or already operating accommodations.
Samhi Hotels was founded in the beginning of 2011. The hotel company has managed to get US$100 million investment from a private firm Equity International headquartered in Chicago. Both companies have quite ambitious plans concerning the building of a chain of mid-market hotels across India. Later Samhi Hotels has signed a joint venture agreement with Marriott International. The Indian hotelier has got the right to develop a chain of Fairfield hotels in India. The investment of Marriott into the Indian property estimated US$30 million.
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