SAMHI Hotels, a leading branded hotel ownership and asset management platform, and GIC, a global institutional investor based in Singapore, have announced a strategic partnership to create a new Upscale+ hotel investment platform in India.

The joint venture is backed by an equity investment plan of up to USD 300 million, aimed at acquiring, developing, and enhancing upscale and higher-category hotel assets in the country. The platform will be launched with five seed assets owned by SAMHI, comprising over 1,000 rooms, valued at approx. Rs 2,200 crore. GIC will acquire a significant minority stake in the special purpose vehicles (SPVs) that hold these assets.

The seed portfolio is concentrated in Bengaluru and Pune, two cities with robust demand from high-density office micro-markets and limited new supply, offering strong growth potential. The initial hotel assets under the platform include: Hyatt Regency, Pune (Nagar Road) – 301 rooms, with 22 serviced apartments under development Courtyard by Marriott, Bengaluru (ORR) - 176-rooms, Fairfield by Marriott, Bengaluru (ORR) - 160 rooms, Trinity Hotel, Bengaluru (Whitefield) -142 rooms, to be repositioned under Marriott’s Tribute Portfolio Westin Hotel (220 rooms) – Currently under development and will be integrated with Trinity Hotel.

The investment capital will be deployed toward capital expenditure, future acquisitions, and debt reduction across the properties. SAMHI will retain operational control and oversee the development of assets within the platform.