SAMHI Hotels Limited, a leading branded hotel ownership and asset management platform in India, has announced the signing of an Agreement to Lease (ATL) through its wholly owned subsidiary, Barque Hotels Private Limited. The agreement is with Mrs P Pramoda, Mrs P Harika, and Aurean Eskar (collectively referred to as the “Lessors”) for a new mid-scale hotel comprising approximately 260 rooms to be developed within a mixed-use project in Hyderabad’s Financial District.

The building will be constructed by Aurean Eskar and handed over to SAMHI for fitouts and branding. The estimated development cost for SAMHI’s scope of work is expected to be between Rs 1.25 billion and Rs 1.43 billion.

This transaction has been structured as a long-term variable lease, strategically linking land value realisation to the hotel's operating performance. This alignment allows SAMHI to benefit from market upside while maintaining a capital-efficient expansion model.

Aurean Eskar recently completed One Golden Mile, a 500,000 sq ft premium commercial tower in Hyderabad’s Kokapet Business District, which is now fully leased and houses a mix of boutique offices and high-street retail.

The new mid-scale hotel will become SAMHI’s third property in the Financial District, complementing its existing presence with the Sheraton (326 rooms, including 42 under development) in the Upscale+ segment and the Fairfield by Marriott (232 rooms) in the Upper Mid-Scale segment. With this addition, SAMHI will offer a comprehensive range of pricing options, targeting diverse customer segments within this rapidly developing micro-market.

This move reinforces SAMHI’s strategy of building scale and density in high-growth micro-markets by offering multiple branded hotel formats. The approach is designed to optimise portfolio returns and create long-term value.

The agreement remains subject to customary post-signing conditions, including the receipt of necessary building sanctions, following which the final lease deed will be executed.

Commenting on the agreement, Mr Ashish Jakhanwala, Chairman and Managing Director of SAMHI Hotels Ltd, stated:

“With this agreement, we are deepening our presence in Hyderabad’s Financial District by adding a mid-scale offering alongside our existing upscale and upper mid-scale hotels. This strengthens our ability to serve a wider customer base and demonstrates our disciplined, capital-efficient approach to growth. The long-term variable lease structure aligns performance and capital prudence, ensuring value-accretive expansion.”