Samhi Hotels Expands with Noida Hotel Lease

Samhi Hotels Ltd, a hotel owner and asset manager, is expanding its portfolio with a long-term lease for a 162-room upscale hotel in Noida. The deal was made through its wholly owned subsidiary, SAMHI Skyline Private Ltd, and is with INGKA Centres India Private Ltd, part of the global Ingka Group.

Partnership with Ingka Centres India

INGKA Centres India, a division of the global Ingka Group, is partnering with SAMHI Skyline on the 162-room upscale hotel project in Noida, Uttar Pradesh. This hotel will be part of a larger mixed-use development that includes commercial, office, and hospitality components.

Revenue-Sharing Rent Structure

The rental payment structure is based on a revenue-share model, meaning SAMHI Skyline will pay a percentage of the hotel's net operating revenue. The lessor, INGKA Centres, is responsible for constructing the hotel building. SAMHI Skyline will take over once construction is complete to handle interior fit-outs and branding.

Deal Details and Conditions

This agreement is a long-term lease/sub-lease and does not involve any shareholding or related party transactions between Samhi Hotels and Ingka Centres. It also does not include special rights or board nominations for either party. The lease is subject to certain conditions, such as obtaining the necessary building permits.

Market Response

Following the announcement, Samhi Hotels Ltd saw its shares close at ₹160.30 on the BSE, a rise of 2.40%. This positive stock movement suggests investor approval of the company's expansion plans in the growing hospitality market.