SAMHI Hotels and GIC announce a JV for upscale and higher hotel assets in India
GIC and SAMHI Hotels have forged a strategic partnership to invest in upscale Indian hotels. GIC will acquire a 35% stake in three SAMHI subsidiaries for ₹752 crore. The investment will reduce SAMHI's debt by ₹580 crore and fund expansion, including a Westin hotel in Bengaluru.