Goldman Sachs has invested 4.4 billion rupees ($66 million) for a significant minority stake in Indian hotel investment and development firm Samhi Hotels, the companies said in a statement on Tuesday. Samhi, which operates 10 hotels and is developing 16 more, will use the money to grow its portfolio to about 30 to 35 properties, the company’s CEO Ashish Jakhanwala told Reuters. Samhi’s hotel properties are operated by major global hotel companies such as Marriott, Accor, Hyatt, and Starwood under their brand names. A gradual recovery in India is boosting demand for hotel rooms. To read more, click here.
