SAMHI Hotels Limited, through its wholly owned subsidiary SAMHI Skyline Private Limited, has signed an agreement with Ingka Centres India Private Limited, part of the Ingka Group, to lease an upscale 162-room hotel within Ingka Centres' upcoming 2.5 million (mn) sq. ft. mixed-use development in Noida, Uttar Pradesh. The project is in active development and is envisaged as a marquee scheme that will enhance Noida's skyline and strengthen its role as a commercial and hospitality hub in the Delhi NCR region. The hotel will form part of Ingka Centres' Meeting Places concept, which creates modern retail-led destinations blending shopping, leisure and community-focused experiences while supporting local businesses and workspaces. SAMHI indicated that the location within a high-quality mixed-use ecosystem is expected to provide strong captive demand and high visibility for the hotel. The arrangement is intended to integrate hospitality with the broader retail and leisure offering. The partners described the collaboration as combining SAMHI's institutional operating platform with Ingka Centres' global development expertise, reinforcing SAMHI's strategy of partnering with leading institutional organisations. The project will be executed under a long-term variable lease model intended to preserve capital efficiency, with Ingka leasing the building shell and high-side engineering and SAMHI investing in interior fit-outs. The hotel will be managed under an international brand to be determined. The development expands SAMHI's presence in the Delhi NCR region, where the company already owns Hyatt Place Gurgaon, Holiday Inn Express Gurgaon and Holiday Inn Express Greater Noida. SAMHI reported that it operates a portfolio of 31 hotels comprising 4,904 rooms across 13 cities in India. The company said the deal aligns with its capital-light growth approach and institutional ownership model. Ingka Centres, part of the Ingka Group that also includes IKEA Retail and Ingka Investments, has more than 50 years of experience in shopping centres and operates 38 meeting places across 15 markets, hosting over 320 mn visitors annually. Both parties stated that the partnership aims to deliver a landmark integrated destination in Noida that will enhance visitor experience and support local community engagement.