M&A

M&A

Samhi Hotels to acquire Innmar Tourism for Rs.205-Cr

Economic Times  

Gurugram-headquartered branded hotel ownership and asset management platform Samhi is to acquire Bengaluru-headquartered Innmar Tourism and Hotels Private Ltd (ITHPL) for INR 205 crore (enterprise value) in cash.Following this transaction, ITHPL will become a wholly-owned subsidiary of Samhi Hotels Ltd. The acquisition is being completely funded from Samhi’s internal accruals.The acquisition includes an operating hotel featuring 142 rooms in Whitefield, Bengaluru. There is further expansion opportunity to add a second hotel with 200-220 rooms and take the total inventory of the complex to 340-360 rooms.