Samhi Hotels Limited has informed the Exchange about Transcript
SAMHI · price
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SAMHI Hotels announced the acquisition of up to 70% stake in RARE India for ~INR 47 crores, with an enterprise value of INR 49 crores and post-money valuation of INR 72 crores. RARE India is a 23-year-old leisure platform representing 67 small experience-led hotels with ~990 rooms across 15 states in India, Bhutan, and Nepal, currently generating INR 3 crores in revenue (subscription fees) and INR 250 crores in enterprise-wide gross sales. Post-investment, RARE will be affiliated with Marriott as the exclusive platform for the Outdoor Collection by Marriott Bonvoy. Management targets revenue of INR 90-100 crores in 3-4 years, hotel count growth from 67 to 120-150, 60-70% RoCE, and investment payback within 18-24 months. Current occupancy is 35-45% with 70%+ hotels priced above INR 25,000 per night. This is SAMHI's first entry into the leisure segment and its first asset-light investment, using only about 10% of its annual free cash.
Strategic diversification into asset-light experiential leisure with potential high upside and limited capital risk. Margins will be moderated because SAMHI is 'renting' Marriott's distribution rather than building its own. Likely positive for the stock on strategic clarity, growth optionality, and strong return potential, though the current EBITDA of RARE was not disclosed, leaving valuation questions open.