The agreement, executed on April 15, 2026, is with INGKA Centres India Private Ltd, part of the Ingka Group, which operates IKEA Retail, Ingka Centres and Ingka Investments. The proposed hotel will be developed as part of a mixed-use development at E-01, Sector-51, Noida, Gautambuddha Nagar, Uttar Pradesh.
The mixed-use project will comprise commercial, hospitality, office space and other ancillary components. The agreement covers an estimated built-up area of 15,022 square metres for the hotel.
Also Read: Samhi Hotels to pick up 70% in Rare India for ₹47.39 cr; explores Marriott tie-up
As per the terms, the development will be undertaken by the lessor within a specified timeline. SAMHI Skyline will take possession after completion of the lessor’s scope of work for the execution of hotel fit-outs and branding. The hotel will be operated under an international brand, which will be determined later.
The transaction is structured as a long-term lease/sub-lease arrangement. Rent payable by SAMHI Skyline will be calculated as a percentage of net revenue generated from hotel operations, with specific terms defined in the agreement. In addition, the company will pay applicable ancillary service and utility charges.
The agreement is subject to the fulfilment of certain conditions, including receipt of the requisite building sanctions, following which the lease deed will be executed.
Also Read: Samhi Hotels expects early teens revenue growth to continue over 12-18 months
There is no shareholding between the parties, and the transaction does not fall under related party transactions. No special rights, board nominations, or capital structure-related provisions are part of the agreement.
Shares of Samhi Hotels Ltd ended at ₹160.30, up by ₹3.75, or 2.40%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
