Goldman Sachs Offloads Samhi Hotels Shares for INR 343 Crore

New Delhi, Apr 2 - In a significant move in the hospitality sector, the US-based investment giant Goldman Sachs executed a substantial transaction involving shares of Samhi Hotels, a leading hotel ownership and asset management company in India. Through its affiliate, Goldman Sachs Investments Holdings Asia Ltd, the firm sold shares worth Rs 343 crore in an open market operation on the National Stock Exchange (NSE).

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According to details released by the NSE, Goldman Sachs Investments Holdings Asia offloaded a total of 1,70,92,202 shares. This sale represented a 7.84 per cent stake in Samhi Hotels. The shares were sold at an average price of Rs 200.55 each, culminating in a transaction value of approximately Rs 342.78 crore.

In a parallel development, Goldman Sachs Singapore Pte and Aditya Birla Sun Life Mutual Fund stepped in as buyers. Goldman Sachs Singapore Pte acquired 72.66 lakh shares while Aditya Birla Sun Life Mutual Fund purchased 15 lakh shares of Samhi Hotels. The acquisitions were made within the price range of Rs 200.18 to Rs 202.54 per share, leading to a combined deal value of Rs 175.84 crore.

The trading day witnessed a decline in Samhi Hotels' share price, which fell by 2.07 per cent to close at Rs 205.70 on the NSE. Samhi Hotels Ltd (SAMHI) is recognized as the third-largest hotel ownership and asset management platform in India. The company operates several prestigious brands including Courtyard by Marriott, Fairfield by Marriott, Hyatt Regency, Hyatt Place, Sheraton, and Holiday Inn Express by IHG.

Samhi Hotels made headlines in September last year with its impressive debut on the NSE and BSE. The company's shares closed nearly 16 per cent higher on the bourses on their first day of trading, marking a successful entry into the public market.

This recent transaction underscores the dynamic nature of investment activities in India's hospitality sector. It reflects the confidence of major global investment firms like Goldman Sachs in the growth potential of Indian hotel companies. As Samhi Hotels continues to expand its portfolio and presence across the country, such transactions are indicative of the vibrant investment landscape within India's hospitality industry.