Hotel asset company SAMHI Hotels has acquired Ascent Hotels for an undisclosed sum.
Ascent owns the 220 rooms Hyatt Regency hotel in Pune, as well as 102 serviced apartments operated under the same brand, and is owned and managed by the real-estate and hospitality conglomerate, RK Jatia Group.
Following successful addition of six new hotels to its operating portfolio in 2015, including two acquisitions, the acquisition allows SAMHI to strengthen its portfolio which will continue to expand during 2016 both due to pre-scheduled openings as well as new opportunities for acquisition, the company said. Vascon, which is an existing shareholder in Ascent, will continue to be an investor through convertible debentures.
Published 09 February 2016, 16:57 IST