SAMHI Hotels Limited has announced its acquisition of Innmar Tourism and Hotels Private Limited, a significant move in the company’s growth strategy. The deal, valued at ₹205 crore (₹20,500 lakh), involves the purchase of 84.37 lakh equity shares of Innmar, constituting 100% of its share capital.
Innmar Tourism and Hotels owns an operational hotel with 142 rooms in Whitefield, Bangalore. Along with the existing hotel, the property includes surplus land for the development of an additional 200-220 rooms in the upper upscale segment, further bolstering SAMHI’s presence in the thriving Bangalore market.
This acquisition aligns with SAMHI’s broader strategy of driving growth through acquisitions and turnarounds. The board of SAMHI Hotels approved this investment in a meeting held on October 4, 2024, with the transaction expected to be completed by the end of the same day. The ₹205 crore purchase will be settled in cash, subject to TDS and certain adjustments stipulated under the share purchase agreement.
Innmar’s financial performance
Innmar Tourism and Hotels, incorporated on October 22, 2003, is primarily involved in hotel ownership and asset management. The company has recorded the following turnover in the past three years:
- Financial Year 2023-24: ₹24.76 crore (₹2,476.10 lakh)
- Financial Year 2022-23: ₹24.19 crore (₹2,419.20 lakh)
- Financial Year 2021-22: ₹2.89 crore (₹288.90 lakh)
The acquisition represents a strategic expansion for SAMHI Hotels, offering immediate operational assets and future development opportunities in one of India’s leading hospitality hubs.