US investment bank Goldman Sachs invests 4.4 billion. Rupees (66 million. Dollars) in Indian investment company Samhi Hotels, Reuters reported.
The company operates 10 hotels and is currently building more than 16 investment funds of Goldman Samhi intend to use to expand its portfolio to 30-35 Property, commented CEO Ashish Dzhakanvala to the news agency.
The hotels of the company are committed to global chains such as Marriott International, Starwood Hotels, Accor SA and Hyatt International.
Restoration of the third largest economy in Asia led to a significant increase in demand for hotel rooms, notes Reuters.
Hotel occupancy at the end of March last year reached 60.3% – the highest in four years. Revenue from room also reported growth – for the first time since the 2010-2011 period, according to the consulting firm HVS.
According Dzhakanvala market in India will be new opportunities for acquisitions in the hotel sector, especially given the fact that several hotels need fresh funds to overcome financial stress from previous years.
Since 2011 Samhi Hotels has raised over 240 million. Dollars. The company focuses on budget hotels and mid-range hotels.
The company does not reveal yet what proportion acquired Goldman Sachs. Its biggest shareholder remains Equity International, founded by billionaire Sam Zell, who invested 90 million. Dollars in the Indian group.
Since 2006, Goldman Sachs has invested more than 2.5 billion. Dollars in India, mainly in the infrastructure and energy sectors.