SAMHI Hotels Limited (“SAMHI”), through its wholly owned subsidiary SAMHI Skyline Private Limited, has entered into an agreement with Ingka Centres India Private Limited, part of the Ingka Group (Ingka Group operates three businesses in one: IKEA Retail, Ingka Centres and Ingka Investments), for leasing an upscale ~162-room hotel within Ingka Centres’ upcoming ~2.5 million sq. ft. mixed-use development in Noida.
The project, which is in active development, is envisioned as a marquee project that will meaningfully enhance Noida’s skyline and further strengthen its positioning as a leading commercial and hospitality hub in the Delhi NCR region The hotel will form part of Ingka Centres’ mixed-use Meeting Places concept, creating a modern retail-led destination that blends shopping, leisure, and community-focused experiences while supporting local businesses and workspaces.
Strategic Highlights
- Best-in-Class Partnership: The collaboration brings together SAMHI’s institutional operating platform and Ingka Centres’ global development expertise, reinforcing SAMHI’s strategy of partnering with leading institutional organizations.
- Prime Location: Situated within a high-quality mixed-use ecosystem, the hotel is expected to benefit from strong captive demand and high visibility within the development.
- Capital Efficient Structure: The project will be executed under SAMHI’s long-term variable lease model, ensuring strong alignment of interests while maintaining a capital-light approach. Ingka will lease the building with façade and all high side engineering, with SAMHI to invest in interior fit-outs. The hotel will be managed under an international hotel brand to be determined in due course.
- Strengthening Delhi NCR Presence: This project further expands SAMHI’s footprint in the Delhi NCR region, where it already owns the Hyatt Place Gurgaon, Holiday Inn Express Gurgaon, and Holiday Inn Express Greater Noida.
Management Commentary
Commenting on the development, 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.”
“We are thrilled to welcome SAMHI Hotels as a partner in our Noida Meeting Place. This collaboration reflects our vision to create vibrant mixed-use destinations where people can live, work, shop and stay — all in one place. Having a high-quality hospitality offer within our mixed-use development strengthens the overall experience we want to provide to our visitors and the local community. Together with SAMHI, we are committed to delivering a landmark destination that will set a new benchmark for integrated urban living in the Delhi NCR region.” said Giovanni Princiotta Cariddi, Country Manager India, Ingka Centres”
