New Delhi, April 30, 2025 : Chicago-based private equity firm Equity International has wrapped up its 14-year investment in Indian hospitality group SAMHI Hotels Limited, disposing of its last remaining 23.2% holding on April 29, 2025. The exit closes the last chapter on Equity International’s work with the hotel ownership platform it developed from a business plan into a 34-property portfolio.
Investment Timeline and Exit Strategy
Equity International, led by legendary investor Sam Zell, initially invested in SAMHI in 2011, seeing India’s expanding hospitality sector potential. The company slowly exited its stake through strategic sales:
- September 2023: Sold 49.8% at SAMHI’s IPO
- March 2024: Sold 27% of original holdings
- April 2025: Exited remaining 23.2% (8.7 million shares)
SAMHI’s existing portfolio comprises 5,500 keys spread over 13 Indian cities under global brands like Marriott, Hyatt, and IHG. Three more properties with 700 keys are under development.
Creating an Institutional Hospitality Platform
The investment thesis around India’s economic growth, urbanization patterns, and under-penetrated mid-market hospitality space. SAMHI had the advantage of going after internationally branded hotels instead of single standalone hotels.
“Equity International’s long-term partnership was crucial to scaling our platform,” Ashish Jakhanwala, CEO of SAMHI, commented. The PE firm invested and offered strategic direction as the firm grew from startup to publicly listed company.
Equity International CEO Tom Heneghan observed that the exit follows the firm’s disciplined investment philosophy: “This completes our monetization cycle on plan. We recognized SAMHI’s excellent management team early on and partnered along their growth journey.”
The hotel industry has evidenced resilience in the post-pandemic period, with SAMHI’s shares (BSE/NSE: SAMHI) proving stable since they listed. Sector experts consider the full exit a natural evolution instead of an expression of market perceptions.
With Equity International’s exit, SAMHI enters a fresh phase as an entirely independent public company. The hospitality group expands its asset pool while operating assets under franchise agreement with international operators.