SAMHI, a Gurgaon-based developer and owner of hotels in India, has received a $75m investment commitment from Equity International.
Also co-sponsored by investment firm GTI Capital Group, SAMHI is a newly formed hospitality property company focused on the development, acquisition and ownership of select-service, business-class hotels across the country. It has already begun to develop properties in Bangalore, Chennai and Gurgaon, which will comprise four hotels with brands such as Courtyard and Fairfield by Marriott and Hyatt Place.
SAMHI is also working on opportunities in other cities including Delhi, Mumbai, Hyderabad, Pune and Kolkata.
The company was founded by three principals with extensive hospitality experience:
– CEO Ashish Jakhanwala;
– Manav Thadani, chairman of HVS India; and
– Steve Rushmore, president and founder of HVS, the global hospitality consulting firm.
In conjuction with the investment, which was made by EI’s Singapore operating company, EI’s Christopher Fiegen and Vijay Jayaraman, Ashish Jakhanwala, Manav Thadani, and Gaurav Burman and Gaurav Dalmia of GTI, joined SAMHI’s board.