SAMHI Hotels Limited has announced the sale of its 100% ownership in Duet India Hotels Pvt. Ltd. for INR 535 million as part of its capital recycling strategy. The subsidiary, acquired through the ACIC Portfolio, owned 116 rooms at Four Points by Sheraton, Chennai OMR.
For the nine-month period ending December 31, 2024, the subsidiary recorded INR 110 million in revenue, an EBITDA of INR 23 million, and a net loss of INR 33 million.
CEO & Managing Director Ashish Jakhanwala stated that the proceeds from this transaction will be used to reduce debt and strengthen the company’s balance sheet, allowing for capital reallocation toward high-growth opportunities in Hyderabad, Bengaluru, and Pune. He emphasized that this move aligns with SAMHI’s long-term strategy to enhance returns and optimize its hotel portfolio.
SAMHI currently operates 32 branded hotels with 4,943 keys across 13 cities in India, including NCR, Bengaluru, Hyderabad, Chennai, and Pune, under partnerships with Marriott, IHG, and Hyatt.
