New Delhi, Apr 15 (PTI) SAMHI Hotels on Wednesday said its subsidiary SAMHI Skyline has entered into an agreement for leasing a 162-room hotel within Ingka Centres India's upcoming 2.5 million square feet mixed-use development in Noida.
The project will be executed under SAMHI's long-term variable lease model, ensuring strong alignment of interests while maintaining a capital-light approach, SAMHI Hotels stated.
The hotel will be managed under an international hotel brand to be determined in due course, it added.
Ingka Centres India is a part of the Ingka Group which operates three businesses: IKEA Retail, Ingka Centres and Ingka Investments.
The hotel will form part of Ingka Centres' mixed-use meeting places concept.
Ashish Jakhanwala, Chairman & Managing Director, SAMHI Hotels Ltd, said: “This partnership with Ingka Centres represents a significant milestone for SAMHI as we continue to scale through our capital-efficient, long-term variable lease model in the National Capital Region. The Noida project is a marquee development with strong underlying demand drivers, and we are delighted to collaborate with world class partners in Ingka to deliver a landmark hospitality asset".