SAMHI to add 1,000 more rooms in 2019

SAMHI Hotels is planning to increase its daily available inventory for sale from 3,000 to 4,000 rooms, registering a 30 per cent surge by 2019 on the back of its acquisition of Premier Inn portfolio in 2017 and also the acquisition and subsequent rebranding of several hotels to Holiday Inn Express.

Addressing the Partnership Dinner 2018 in Ahmedabad, Ashish Jakhanwala, Founder & CEO, SAMHI said, “Indian hotel industry is showing strong signs of recovery and at same time is also maturing to allow better risk adjusted returns to the investors.”

He added: “Growth of aviation, expansion of office spaces across key Indian cities and increasing propensity for Indians to travel both for business and leisure is supporting a strong demand growth for hotels. However, the industry continues to be operationally intensive.”

According to the Goldman Sachs-backed company, the increase of 1000 rooms is one of the highest ever by any Indian hotel ownership company in a single year.

Jakhanwala added: “Many investors just look at the size of distress while acquiring assets. We, however, believe in evaluating the potential future opportunity and not just the discount due to distress. Over the years, we have demonstrated ability to reposition and turnaround several hotel assets that we acquired. We believe such opportunities will continue to fuel our growth in the near term.”

Image Credit : img.etimg.com

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