SAMHI targets 60% upscale mix with 1,669 new hotel rooms

SAMHI says its secured programme of 1,669 new rooms and 473 room conversions is intended to increase its upscale share from about 41% to about 60% by FY2030. The expansion schedule ranges from completed FY26 work to FY30+ developments, including a roughly 700-room Navi Mumbai combo hotel.

How is SAMHI changing its hotel mix?

SAMHI is using rebrandings, renovations, expansions and new openings to raise its upscale share from about 41% to about 60% by FY2030. In Q2FY27, Upper Upscale & Upscale accounted for 42% of total income, compared with 41% for Upper Mid-scale and 17% for Mid-scale. The presentation does not state that the 41% starting portfolio-mix measure uses the same income-based methodology as the Q2FY27 split.

SAMHI had 4,899 operational rooms when it presented the project schedule. Its Upper Upscale & Upscale segment comprised five hotels and 1,123 rooms, while Upper Mid-scale had 14 hotels and 2,047 rooms and Mid-scale had 12 hotels and 1,729 rooms. On a same-store basis in Q2FY27, Upper Upscale & Upscale reported 80% occupancy, Rs 11,923 average room rate, or ARR, and Rs 9,503 revenue per available room, or RevPAR. Upper Mid-scale recorded 76% occupancy, Rs 7,156 ARR and Rs 5,442 RevPAR, while Mid-scale recorded 81%, Rs 4,068 and Rs 3,292 respectively.

When are SAMHI's planned rooms scheduled to open?

SAMHI assigns listed project room entries across FY26 to FY30+, with 356 rooms in FY26, 239 in FY27, 426 in FY28, 480 in FY29 and 997 in FY30+. These entries total 2,498 rooms, rather than the separate headline totals of 1,669 added rooms and 473 conversions. The presentation does not reconcile the headline figures with the full project-by-project schedule, which includes completed projects and room counts that may change with final plans or branding.

FY27 includes 22 apartments at Hyatt Regency, Pune that were under pre-opening and 217 rooms at Courtyard by Marriott, Pune, which is being rebranded from Four Points by Sheraton. FY28 includes the 170-room W HITEC City, Hyderabad, a 142-room conversion from Trinity to Tribute Portfolio by Marriott in Whitefield, Bangalore, and a 114-room Four Points by Sheraton conversion in Jaipur. The 133-room Holiday Inn Express Greater Noida rebranding was marked completed in FY26.

The FY29 schedule combines a 220-room Westin in Whitefield with a roughly 260-room Mid-scale project in Hyderabad's Financial District. FY30+ includes a roughly 350-room Westin and roughly 350-room Fairfield by Marriott in Navi Mumbai, a 162-room Upper Upscale asset in Noida and a 135-room Marriott-branded hotel in Sriperumbudur, Chennai. SAMHI states that several of these room counts can vary based on the final segment, brand or hotel plan.

What is the status of SAMHI's main upscale developments?

SAMHI's 170-room W HITEC City, Hyderabad had completed construction, while mechanical, electrical and plumbing, or MEP, work and fit-out were under progress. Interior design was at finalisation and the mock-up room was completed, while the pre-opening field remained blank in the tracker. SAMHI assigns the opening to FY28 and says the room count may vary based on the final segment brand and plan.

In Whitefield, Bangalore, SAMHI is renovating 142 rooms for Tribute Portfolio and developing 220 new Westin rooms. The Q2FY27 tracker showed interior design under way and basement construction in progress, with MEP, fit-out and pre-opening not marked as started. The 142-room Tribute Portfolio project is listed for FY28, while the 220-room Westin is scheduled for FY29.

SAMHI describes the roughly 700-room Navi Mumbai combination hotel as its largest hotel under development. It is planned as a roughly 350-room Westin and a roughly 350-room Fairfield by Marriott, on a main arterial road near the new airport. Design was at planning stage, while construction, MEP, fit-out and pre-opening had no progress shown; both room counts are subject to final plans.

How does SAMHI structure selected new projects?

SAMHI describes its approximately 162-room Noida Upper Upscale hotel as a partnership with Ingka Centres, part of Ingka Group, under a long-term variable lease. Design was at an advanced stage and construction had reached ground-floor level. SAMHI says the lease-led arrangement is intended to limit upfront capital deployment during development while adding an upscale property in Delhi National Capital Region.

The proposed roughly 260-room Financial District, Hyderabad hotel is also structured as a variable lease, according to SAMHI. The project was at planning stage, with construction, MEP, fit-out and pre-opening not started in the tracker. SAMHI said it was in discussion with operators on the final segment and brand, making both the roughly 260-room count and FY29 schedule designation subject to further decisions.

At Sriperumbudur, SAMHI plans a roughly 135-room Marriott-branded hotel alongside an existing 153-room Fairfield by Marriott. The development was previously proposed as an 86-room Fairfield extension. SAMHI said the existing Fairfield had achieved asset-level return on capital employed, or RoCE, of more than 30%, while the proposed Marriott project remained at the planning stage and is listed for FY30+.

Conclusion

SAMHI's disclosed programme combines 1,669 added rooms with 473 conversions to alter its portfolio mix, rather than relying on one project alone. Its Q2FY27 income remained split between 42% from Upper Upscale & Upscale and 58% from Upper Mid-scale and Mid-scale, while the room schedule includes conversions in Pune, Whitefield and Jaipur alongside new-build capacity in Hyderabad, Noida, Navi Mumbai and Sriperumbudur.

The next disclosed markers are delivery of the FY27, FY28 and FY29 project entries and progress beyond planning at the Navi Mumbai, Financial District Hyderabad and Sriperumbudur developments. SAMHI also needs to finalise the brand, segment or room plans for projects where it says counts may vary, while management's stated portfolio objective remains an upscale share of about 60% by FY2030.