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SAMHI Hotels, through its subsidiary SAMHI Skyline, has entered into an agreement to lease a 162-room hotel within Ingka Centres India's upcoming 2.5 million sq ft mixed-use development in Noida. Structured under a long-term variable lease model, the deal aligns with the company's capital-light expansion strategy while ensuring operational flexibility. The hotel will be operated under an international brand, which is yet to be finalised. The project forms part of Ingka Centres broader mixed-use meeting places concept, integrating retail, hospitality and social infrastructure. Ingka Centres India operates under the Ingka Group, which also runs IKEA Retail and Ingka Investments. The development reflects continued hospitality interest in the National Capital Region amid sustained demand drivers.
SAMHI Hotels Ltd, through its wholly owned subsidiary SAMHI Skyline, has entered into an agreement to lease a 162-room hotel in Noida within Ingka Centres India's upcoming 2.5 million sq ft mixed-use development, with the transaction announced in the past week as part of its continued expansion in the National Capital Region through a capital-light model. Advertisement
The proposed hotel will be developed under SAMHI's long-term variable lease structure, a model the company has increasingly adopted to expand its portfolio without significant upfront capital deployment. Under this structure, lease payments are linked to the performance of the asset, allowing both the owner and operator to align their financial interests over the long term while maintaining operational flexibility.
According to the company, the hotel will be operated under an international hospitality brand, although the operator has not yet been finalised. The branding decision is expected to be made at a later stage, in line with the positioning of the larger mixed-use development and prevailing market demand.
The asset will form part of Ingka Centres India's integrated meeting places concept, which combines retail, hospitality, entertainment and community spaces within a single development. The Noida project is being developed as a large-scale mixed-use destination, with a built-up area of 2.5 million sq ft, and is expected to cater to a mix of commercial, leisure and social activities.
Ingka Centres India is part of the Ingka Group, which operates across three verticals: IKEA Retail, Ingka Centres and Ingka Investments. The group has been expanding its presence in India through large-format developments anchored around retail and supported by complementary uses such as hospitality and food and beverage.
Commenting on the transaction, SAMHI Hotels leadership indicated that the agreement marked a key step in scaling its presence in the National Capital Region through asset-light growth strategies. The management conveyed that the Noida development offered strong demand fundamentals and highlighted the company's intent to collaborate with established global partners to deliver institutional-grade hospitality assets.
The move reflects a broader trend of hotel operators and developers increasingly adopting lease-based or management contract structures in urban markets such as the National Capital Region, where demand visibility and land costs encourage capital-efficient expansion strategies. The integration of hospitality assets within mixed-use developments has also gained traction, driven by the need to create destination-oriented projects that combine retail, workspace and accommodation.
With this agreement, SAMHI Hotels continues to strengthen its footprint in key urban markets while leveraging partnerships to scale operations without direct asset ownership, aligning with evolving industry models focused on efficiency and risk optimisation.
Source - PTI
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