How two hotel acquisition deals in Bengaluru accounted for ₹4,850 million sales in a single day

Two significant hotel deals in Bengaluru totalled ₹4,850 million in sales on a single day.

Published on: Oct 5, 2024, 14:15:06 IST

By Yamini C S

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Bengaluru’s hospitality market is making waves with two significant hotel acquisition deals that collectively amounted to a staggering ₹4,850 million in a single day.

Samhi Hotels acquired the Trinity Hotel for ₹205 crore and Juniper Hotels sold a 220-room property near the Bengaluru airport for ₹280 crore.

First up, Samhi Hotels Ltd acquired the 142-room Trinity Hotel in the thriving Whitefield area of Bengaluru for ₹2,050 million ( ₹205 crore). Previously operated under ITC’s Fortune brand, this strategic acquisition will enhance Samhi's presence in one of India’s most lucrative hotel markets, following their purchase of Innmar Tourism and Hotels Private Ltd (ITHPL), the Mint reported.

The deal is entirely funded through internal accruals. With this acquisition, Samhi aims to expand the property by adding 200-220 rooms in a new building, transitioning the hotel from upscale to upper-upscale category. This expansion will elevate the total room count to between 340 and 360, complete with upgraded food and beverage outlets, and enhanced banqueting and meeting facilities.

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Bengaluru’s booming office market is a key driver behind Samhi’s strategic focus. Ashish Jakhanwala, Samhi’s chairman and CEO, spoke to the publication and said the strong growth in Bengaluru, which adds 10-12 million square feet of office space annually, creates high demand in a market characterized by limited supply.

On the same day, Juniper Hotels also finalized a ₹2,800 million ( ₹280 crore) deal to sell a 220-room five-star hotel near Bengaluru Airport to Lulu Group’s Twenty Fourteen Hotels India Pvt Ltd. Currently in a shell stage and spanning 6.5 acres, this property is set for renovation and rebranding under an international hospitality name, the report said.

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These high-profile transactions reflect the increasing investor interest in Bengaluru’s hospitality sector, as the Indian market prepares for projected deal volumes to reach $413 million by year-end — a 22 per cent growth from last year. With 19,442 branded hotel rooms signed in the first half of 2024, the momentum in Bengaluru’s hotel market underscores the growing demand for premium hospitality experiences.

ABOUT THE AUTHOR
Yamini C S
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.Read More

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