/ -- SAMHI announces INR 100 crore investment into renovating 10 hotels to deliver a best-in-class product in India
InterContinental Hotels Group (IHG), one of world's leading hotel companies and SAMHI, emerging as India's premier lodging real-estate company, shared details of commercial success of their partnership following the launch of 10 Holiday Inn Express hotels in the country.
In November 2017, IHG started its journey with SAMHI with the signing of 14 hotels within their India hotel portfolio to renovate and rebrand to Holiday Inn Express on par with the global brand standards. September 2018 witnessed the launch of first rebranded Holiday Inn Express hotel in Gurgaon Sector 50. In the following next six months, total of 10 properties were launched across Bengaluru, Hyderabad, Ahmedabad, Nashik, Pune and Chennai.
Commenting on the success, Pascal Gauvin, Managing Director, IMEA, IHG shared, "We are pleased to announce that the newly launched hotels are currently trading at an ADR of INR 3254, and Holiday Inn Express Gurgaon Sector 50 which has been open for six months is operating at 21% above the forecasted RevPAR. These numbers are very encouraging and give us confidence in the continued success of the portfolio. Our partnership with SAMHI and launch of the new Holiday Inn Express portfolio has given us a solid foothold in the midscale hotel segment in India. With the recent openings, we now have 27 operating hotels under the Holiday Inn brand family in the country, and a robust pipeline of 33 hotels due to open in next 2-3 years. Through this venture, we have realised that in a market like India, it is imperative to forge partnerships with partners such as SAMHI. Together we will continue to contribute by building a robust hospitality market in the country."
Ashish Jakhanwala, Founder, MD & CEO, SAMHI added, "In terms of a partnership, IHG has trusted us with one of their most recognized brands and to operating the hotel to the highest brand standards, profitably. Our end of the partnership was to deliver a truly best-in-class product that met the highest brand standards. I can say following, an INR 100cr investment on renovation (550cr on the acquisition of the Holiday Inn portfolio). We have conducted one of the largest rebranding exercises in the Indian hospitality industry. Moreover, we have delivered and exceeded expectations. Today, our repeat guests who have seen the hotel before and after the renovation are taken aback by the high quality and upgraded experience of the new product and they have noticed that the hotel clientele has changed drastically as well. Not only do we remain confident about opening the remaining four hotels in the portfolio but also add more Holiday Inn Express hotels to the portfolio across Tier 1 and Tier 2 cities."
All Holiday Inn Express hotels under IHG - SAMHI portfolio offer intelligent, design-led, contemporary rooms, providing an inviting and efficient environment to the guests. For seamless connectivity, the hotels offer free high-speed Internet in all rooms. Guests staying at Holiday Inn Express can enjoy breakfast (included in the rate) with quality offering, to kick-start their day.
IHG currently has 39 hotels operating across four brands in India, including InterContinental Hotels and Resorts, Crowne Plaza, Holiday Inn and Holiday Inn Express, and a strong pipeline of 39 hotels due to open in the next 2-3 years.
**Figures as of 31st December, 2018
Notes to Editors:
IHG (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of hotel brands, including Regent Hotels & Resorts, InterContinental Hotels & Resorts, Kimpton Hotels & Restaurants, Hotel Indigo, EVEN Hotels, HUALUXE Hotels and Resorts, Crowne Plaza Hotels & Resorts, voco, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid hotels, Staybridge Suites and Candlewood Suites.
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IHG franchises, leases, manages or owns more than 5,600 hotels and approximately 837,000 guest rooms in more than 100 countries, with almost 1,900 hotels in its development pipeline. IHG also manages IHG Rewards Club, our global loyalty programme, which has more than 100 million enrolled members.
In February 2019, IHG acquired Six Senses Hotels Resorts Spas, adding 16 hotels (1,347 rooms) to its system and 18 hotels to its development pipeline.
InterContinental Hotels Group PLC is the Group's holding company and is incorporated in Great Britain and registered in England and Wales. More than 400,000 people work across IHG's hotels and corporate offices globally.
Visit http://www.ihg.com for hotel information and reservations and http://www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest news, visit: http://www.ihgplc.com/media and follow us on social media at: https://twitter.com/ihgcorporate,http://www.facebook.com/ihgcorporate and http://www.linkedin.com/company/intercontinental-hotels-group
About SAMHI Hotels
SAMHI Hotels Pvt Ltd. is a hotel investment and development company. Founded by Ashish Jakhanwala, SAMHI has world class shareholders that include Sam Zell led Equity International, Goldman Sachs, GTI Capital Group & IFC (member of the World Bank Group).
Hotels owned by SAMHI are operated under partnerships with Marriott, Starwood, Hyatt Hotels and IHG and currently it has 27 operating assets in the country growing to 29 hotels by end of 2019. SAMHI is distinguished in the Indian hospitality market for its Pan India spread, quality of hotels, brands, operating relationships, and a rapidly growing portfolio.
For more information, visit http://www.samhi.co.
Disclaimer: No Business Standard Journalist was involved in creation of this content
