Bengaluru’s hospitality market has witnessed a significant surge with two major hotel acquisition deals, collectively valued at ₹4,850 million, completed in a single day. These deals underscore the growing investor interest in the city’s booming hotel sector.
In the first transaction, Samhi Hotels Ltd acquired the 142-room Trinity Hotel, located in Bengaluru’s bustling Whitefield area, for ₹2,050 million (₹205 crore). The hotel, previously operated under ITC’s Fortune brand, is seen as a strategic addition to Samhi's portfolio in one of India’s most lucrative hotel markets. This move follows the company’s earlier acquisition of Innmar Tourism and Hotels Private Ltd (ITHPL), further cementing its presence in the city, according to a report by HT.
The acquisition, which was fully financed through internal resources, includes plans for future expansion. Samhi Hotels aims to add 200-220 new rooms, increasing the hotel’s total capacity to between 340 and 360 rooms. The property will also undergo significant upgrades, with enhanced food and beverage outlets, as well as improved banqueting and meeting facilities. These developments are expected to elevate the hotel from an upscale to an upper-upscale category.
Bengaluru’s office market, which continues to grow rapidly, has been a key factor driving Samhi’s investment strategy. Ashish Jakhanwala, Chairman and CEO of Samhi, pointed out that the city’s annual addition of 10-12 million square feet of office space creates high demand for hotel accommodations in a market that is already facing limited supply.
On the same day, another notable transaction took place when Juniper Hotels sold a 220-room hotel near Bengaluru’s Kempegowda International Airport to Lulu Group’s Twenty Fourteen Hotels India Pvt Ltd for ₹2,800 million (₹280 crore). The hotel, which is still in its shell stage and situated on a 6.5-acre plot, will undergo significant renovation and rebranding. Once completed, the property is expected to be operated under an international hospitality brand.
These two high-value deals highlight the growing investor confidence in Bengaluru’s hospitality sector. As the Indian hospitality market continues to expand, projections suggest deal volumes could reach $413 million by the end of 2024, reflecting a 22 per cent increase from last year. In the first half of 2024 alone, 19,442 branded hotel rooms were signed, underscoring the strong demand for premium hotel experiences in Bengaluru.
The city’s rapid development, combined with the growing demand for quality accommodation, positions Bengaluru as one of India’s most attractive destinations for hospitality investments.