Royal Orchid sells its Ahmedabad hotel to SAMHI Hotels
April 21, 2012
Ahmedabad, 21 April 2012
Royal Orchid Hotels Ltd. recently revealed that the company has sold a hotel property in Ahmedabad to Gurgaon-based investment firm SAMHI Hotels Private Ltd. for Rs 67 crore in order to reduce debt. The 104-room hotel was owned by the company’s subsidiary Royal Orchid Ahmedabad Pvt Ltd.
Royal Orchid will continue to manage the Ahmedabad property after the sale.
SAMHI is a hotel development and investment company which has partnerships with Chicago-based Equity International (EI), Marriott International and GTI Capital Group.
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