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IHCL inks partnership with GIC for investment framework worth Rs 4,000 cr

Monday, 20 May 2019
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The Indian Hotels Company (IHCL) has entered a strategic partnership with Singapore's sovereign wealth fund, GIC for an investment framework to the tune of around Rs 4,000 crore or USD 600 million over a period of three years from the date of signing.

The capital platform will be used to acquire fully operational hotels mainly in the luxury, upper upscale and upscale segments in India.

The platform allows IHCL to pursue acquisitions in an asset light format, with the equity contribution from IHCL at 30 percent and the balance contributed by GIC, over a period of three years.

The acquisitions are intended to be housed in a separate SPV with its own funding. The hotels acquired within the framework will be managed by IHCL under its marquee brands.

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