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Bengaluru sees ₹485 crore in hotel asset sales in a single day | Mint

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Bengaluru sees ₹485 crore in hotel asset sales in a single day | Mint

- Samhi Hotels Ltd has acquired a 142-room, 4-star hotel in Bengaluru's Whitefield area for ₹205 crore. - Formerly managed by ITC under the Fortune brand, the property is now called Trinity Hotel and will become part of Samhi's portfolio. - Samhi plans to expand the property by adding 200-220 rooms in a separate building, rebranding it from upscale to upper-upscale. - Samhi's focus on Bengaluru aligns with its long-term growth strategy, given the city's strong demand growth driven by limited supply. - Juniper Hotels has secured a ₹280 crore deal to sell a 220-room, five-star hotel near Bengaluru airport to Lulu Group's Twenty Fourteen Hotels India Pvt. Ltd. - The Indian hospitality sector is witnessing a surge in transaction activity, with projected deal volumes expected to reach $413 million by year-end.

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