SAMHI Hotels

What SAMHI Hotels does

SAMHI Hotels Limited (NSE: SAMHI; CIN L72400TG2017PLC117649) is one of India's leading hotel ownership and asset management platforms, operating 31 hotels with over 4,899 keys across 13 commercial hubs including Delhi NCR, Bengaluru, Hyderabad, Chennai, and Pune. Founded in 2010/2011 and listed on NSE in September 2023 (raising ₹1,370 crore), SAMHI operates an institutional ownership model: it owns the real estate and signs long-term operating agreements with global hospitality brands — Marriott International (Westin, Sheraton, Renaissance, Courtyard by Marriott, Fairfield by Marriott, Four Points by Sheraton), IHG (Holiday Inn Express), and Hyatt (Hyatt Regency, Hyatt Place) — which handle day-to-day operations and distribution through their respective loyalty programs.

The company's revenue is generated primarily from hotel operations across upscale, upper-upscale, and select-service tiers, with FY26 total income of ₹12,790 million (+12.3% YoY) and record PAT of ₹5,665 million. SAMHI's growth model blends owned-asset acquisitions, capital-light leases (e.g., the 162-room Ingka Centres hotel in Noida Sector 51), institutional capital partnerships (notably GIC's ₹6,000 million for 35% of a 1,000-room upscale sub-platform in April 2025), and platform M&A — most recently the March 2026 acquisition of a 70% stake in RARE India for ₹470 million, adding 67 heritage properties and a Marriott Bonvoy Outdoor Collection affiliation that extends SAMHI into the experiential leisure segment across India, Nepal, Bhutan, and Sri Lanka.

Customers are primarily business travelers in Tier-1 Indian commercial markets, distributed through brand-partner channels, corporate accounts, and OTAs; pricing is set by the brand operators under management agreements. The portfolio is undergoing premiumization (upper upscale/upscale share moving from 42% toward 60%), a ~700-key dual-brand Westin/Fairfield pipeline near Navi Mumbai International Airport, and balance-sheet strengthening (debt reduced by over ₹900 crore to ₹1,726 crore, net debt/EBITDA ~3x, CARE A+ credit rating), supported by management guidance for 15% revenue CAGR and 23% EBITDA CAGR over the next three years.

Name

SAMHI Hotels

Legal name

SAMHI Hotels Limited

Website

http://www.samhi.co.in

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

SAMHI Hotels Limited is a publicly listed Indian hotel ownership and asset management platform operating 31 hotels with 4,899+ keys across 13 commercial cities, partnering with Marriott, IHG, and Hyatt for brand operations while pursuing institutional capital partnerships, premiumization, and experiential hospitality expansion.

Ownership category

akta.pro rank

Product category

Hotel Ownership and Asset Management

NAICS

Hotels (except Casino Hotels) and Motels (72111)

SIC

Hotels & Motels (7011)

akta.pro primary industry

Urban & Downtown Full-Service Hotels (THAGAAAA)

akta.pro secondary industries

Resort-Area Full-Service Hotels (Non–All-Inclusive) (THAGAAAD), Hospitality (Hotel) Property Management (BPAJAGAG)

Keywords

• Hotel ownership
• Hospitality asset management
• Branded hotel portfolio
• Hotel real estate
• Hospitality investments

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices17 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Others, Technology or R&D

Revenue model

1. Hotel Operations: Revenue generated from owned and operated hotel properties across 31 operational hotels with 4,899+ keys. Hotels operate under global brands including Marriott (Westin, Fairfield, Courtyard, Sheraton, Four Points, Renaissance), IHG (Holiday Inn Express), and Hyatt (Hyatt Regency, Hyatt Place).
2. IPO Proceeds: SAMHI Hotels raised INR 1,370 crore through September 2023 IPO, including INR 1,200 crore fresh equity issuance and Offer For Sale of up to 1.35 crore shares. Anchor investors contributed INR 616.54 crore.
3. GIC Investment Partnership: GIC invested ₹6,000 million for a 35% minority stake in a 1,000-room sub-platform, representing institutional investment into SAMHI's growth vehicle.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels3 records

Core offering

SAMHI Hotels is a hospitality property company that owns, develops, and asset-manages business-class hotels across India's prime commercial hubs. The company operates 31 hotels with over 4,899 keys across 13 cities under franchise and management agreements with global brands including Marriott, IHG, and Hyatt. Revenue is generated from hotel operations, with expansion driven by acquisitions, new developments, and capital-light lease arrangements targeting business and leisure travelers.

Product overview

SAMHI Hotels operates a diversified portfolio of 31 operational hotels with over 4,899 keys across 13 major Indian cities under an institutional ownership model. The company maintains strategic partnerships with global hospitality brands including Marriott International (Courtyard, Fairfield, Four Points, Sheraton, Renaissance, Westin), IHG (Holiday Inn Express), and Hyatt (Hyatt Regency, Hyatt Place). In March 2026, SAMHI expanded into experiential hospitality through a 70% stake acquisition in RARE India, a curated platform of 67 heritage hotels with Marriott Bonvoy Outdoor Collection affiliation. The portfolio includes upscale, upper-mid scale, and select-service properties targeting business and leisure travelers, with expansion plans including new Westin and Fairfield properties in Navi Mumbai and a hotel in Noida's Ingka Centres development.

Differentiator

Problem solved

Functional benefit

Products and services

• SAMHI Hotels Portfolio (Business-Class Hotel Properties) SAMHI's core offering is its diversified portfolio of 31 business-class hotels with over 4,899 keys across India's prime commercial hubs (Delhi, Bengaluru, Hyderabad, Chennai, Pune, Ahmedabad, Jaipur, Goa, Kolkata, Nashik, Visakhapatnam, Coimbatore, and Greater Noida), operated under an institutional ownership model with strategic partnerships with Marriott, IHG, and Hyatt.
• Courtyard by Marriott Properties Premium business hotels operated under the Courtyard by Marriott brand by SAMHI, targeting corporate travelers in IT business parks. Anchor property includes the 170-room Courtyard by Marriott Bengaluru ORR.
• Fairfield by Marriott Properties Upscale hotels operated by SAMHI under the Fairfield by Marriott brand across multiple Indian cities, including the anchor Bengaluru Rajajinagar property (first Fairfield by Marriott in Asia Pacific) launched in 2013.
• Holiday Inn Express Properties Mid-scale select-service hotels operated by SAMHI under the IHG Holiday Inn Express brand across Pune, Nashik, Kolkata, Hyderabad, Greater Noida, Gurugram, Chennai, Bengaluru, and Ahmedabad.
• Four Points by Sheraton Properties Upscale hotels operated by SAMHI under the Four Points by Sheraton brand in Pune, Jaipur, and Visakhapatnam, offering business and leisure amenities.
• Hyatt Regency and Hyatt Place Properties Premium hotels operated by SAMHI under the Hyatt brand, including Hyatt Regency Pune (Nagar Road) with wellness facilities and multi-cuisine dining, and Hyatt Place Gurgaon (Udyog Vihar) near the airport.
• Sheraton Hyderabad Gachibowli Upscale 284-room hotel in Gachibowli, Hyderabad's financial district, operated by SAMHI under the Sheraton brand, with proximity to the airport and major IT companies.
• Renaissance Ahmedabad SG Highway Premium upscale 155-room property in Ahmedabad operated by SAMHI under the Marriott Renaissance brand, near GIFT City.
• Trinity Bengaluru Whitefield Contemporary hotel property in Whitefield, Bengaluru's prominent business district, operated by SAMHI, featuring wellness amenities, multi-cuisine dining, and meeting spaces.
• RARE India Heritage Hospitality Platform Curated heritage and experiential hospitality platform with 67 boutique hotels and 990 rooms across 15 Indian states, Nepal, and Bhutan, founded in 2003, focused on non-standardized experience-driven stays with local community integration.
• Marriott Bonvoy Outdoor Collection (RARE India Affiliation) Marriott Bonvoy Outdoor Collection brand affiliation granted exclusively to RARE India for operating heritage properties across India, Nepal, Bhutan, and Sri Lanka, with access to Marriott's global distribution channels and loyalty program.
• Caspia Delhi Hotel Hotel property in Delhi operated by SAMHI under the Caspia brand, contributing to the company's presence in the Delhi NCR market.

Quantifiable outcome

• Revenue CAGR of 15% and EBITDA CAGR of 23% projected over next three years
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered minor, major and core.

• Clean Max Enviro Energy SolutionsminorOthers · 28 April 2026SAMHI Hotels acquired stake in Clean Max Solomon Private Limited from Clean Max Enviro Energy Solutions for total consideration of INR 49,000 as part of strategic real estate and subsidiary restructuring.
• Ingka Centres IndiamajorStrategic or Co-development Partner · 15 April 2026SAMHI signed lease agreement with Ingka Centres (part of Ingka Group/IKEA) for a 162-room upscale hotel in Sector 51, Noida. Ingka provides building shell and facade while SAMHI invests in interior fit-outs. Hotel to operate under international brand within mixed-use development near IKEA store.
• RARE IndiacoreStrategic or Co-development Partner · 5 March 2026SAMHI acquired 70% majority stake in RARE India for approximately ₹470 million, marking entry into experiential leisure hospitality segment. RARE India operates 67 heritage hotels with 990 rooms across India, Nepal, and Bhutan. Definitive agreements expected by May 2026.
• Marriott Bonvoy (Outdoor Collection)coreChannel Partner/ Reseller/ Distributor · 5 March 2026RARE India signed MoU with Marriott International for affiliation under Marriott Bonvoy's Outdoor Collection brand, granting exclusive rights to operate properties across India, Nepal, Bhutan, and Sri Lanka with access to Marriott's global distribution channels and loyalty program.
• Marriott InternationalcoreChannel Partner/ Reseller/ DistributorStrategic long-standing partnership with Marriott International for operating hotels under multiple brands including Westin, Fairfield by Marriott, Courtyard by Marriott, Sheraton, Four Points by Sheraton, and Renaissance. SAMHI has signed operating agreements for new developments including Westin and Fairfield by Marriott hotels in Navi Mumbai.
• IHG (InterContinental Hotels Group)coreChannel Partner/ Reseller/ DistributorPartnership for Holiday Inn Express brand operations across multiple properties in India including locations in Bengaluru, Chennai, Hyderabad, Ahmedabad, Gurugram, Pune, Kolkata, Nashik, and Greater Noida.
• Hyatt HotelscoreChannel Partner/ Reseller/ DistributorPartnership for operating Hyatt Regency Pune and Hyatt Place Gurgaon Udyog Vihar under Hyatt branding with global distribution support.

Scale indicators17 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Lemon Tree Hotels: Leading Indian mid-scale and upscale hotel chain operating under its own brands plus partner brands. Comparable as a publicly listed India-focused hotel operating company with significant urban business-travel exposure.
• Chalet Hotels: Indian publicly listed hotel ownership and asset management company that owns and operates business-class hotels under global brand partnerships (Marriott, Hyatt, Accor) in gateway Indian cities. Most directly comparable peer given nearly identical asset-ownership-with-global-brand-operator model.
• Royal Orchid Hotels: Indian hotel chain operating midscale and upscale business-class hotels across Indian cities. Comparable mid-scale/upscale peer with focus on business travel markets.
• Brigade Hospitality: Hospitality arm of Brigade Group operating hotels under global brand partnerships (Marriott, Accor) in Indian cities. Comparable asset-ownership model with global brand operator relationships.

Broad incumbents

• ITC Hotels: Large Indian hospitality chain with multiple brand tiers (ITC Royal Bengal, ITC Maratha, Welcomhotel, Fortune). Broad incumbent competitor with extensive footprint across business and leisure destinations in India.
• EIH (Oberoi Group): Owner-operator of Oberoi and Trident hotels in India and select international markets. Established incumbent with overlap on premium urban and leisure Indian properties, though primarily a brand owner rather than asset-light owner.
• Indian Hotels Company (Taj): Tata Group-owned flagship Indian hospitality company operating Taj, Vivanta, SeleQtions, and Ginger brands across luxury, upper upscale, and midscale. Larger, incumbent, brand-owner competitor; overlaps with SAMHI's urban full-service segment.

Emerging players

• OYO Rooms: Indian-headquartered global hotel aggregator and brand operator focused on budget and midscale segments. Adjacent competitor in Indian hospitality, but operates a tech-enabled aggregator/franchise model rather than an asset-ownership model.
• Treebo Hotels: India-focused budget/midscale hotel brand and aggregator. Adjacent emerging player in the Indian midscale segment where SAMHI's Holiday Inn Express portfolio also competes.

Regional players

• Mahindra Holidays & Resorts India: Indian leisure/vacation ownership company operating Club Mahindra resorts. Comparable only on the leisure segment via RARE India; different operating model (timeshare) but useful read-across for the experiential hospitality opportunity.

Market position

Strengths4 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/samhi_hotels
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Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries18 records

Funding overview

Funding rounds5 records

Investors20 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SAMHI Hotels