Hotel development and investment firm SAMHI Hotels has acquired Hyatt Regency in Pune from RK Jatia Group-owned Ascent Hotels for an estimated Rs 350 crore.
The acquisition will be funded through a mix of debt and equity, Ashish Jakhanwala, founder and CEO of Gurgaon-based SAMHI, told ET without divulging the deal size. Opened in 2012 within Weikfield IT Park, Hyatt Regency Pune is a five-star property with 222 rooms and 102 fully serviced luxury apartments. It will be SAMHI’s third property in Pune, after two Formule 1 branded hotels. The Hyatt property is owned by Ascent Hotels Pvt Ltd, a joint venture between Jatia Group, with 81% holding, and Pune-based Vascon Engineers, with 19% holding.