Gurgaon-based hotels investment and development company Samhi Hotels Pvt Ltd has acquired Ascent Hotels Pvt Ltd which owns the 220-room Hyatt Regency hotel in Pune as well as 102 serviced apartments operating under the same brand.

This is the company’s third hotel property in the city.

Vascon, which is an existing shareholder in Ascent which is owned and managed by the real estate and hospitality conglomerate, RK Jatia Group, will continue to be an investor through convertible debentures.

In a statement, Ashish Jakhanwala, founder & CEO, Samhi, said, “With acquisition of Ascent, we get a high quality hotel asset in a key metropolitan centre such as Pune and also strengthen our partnership with Hyatt Hotels. Pune has right ingredients for growth and we are confident of leveraging those with a high quality hotel asset.”

Adarsh Jatia, Managing Director of RK Jatia Group, added, “While the market for hospitality remains bullish in Pune, the sale of Ascent Hotels reiterates the decision to focus resources and bandwidth on our marquee development in Mumbai.”

After the success of the Four Seasons Hotel Mumbai, the new project marks the expansion of the Four Seasons’ footprint in India.

“We are developing two 55-storey towers, The Four Seasons Private Residences, the first branded and serviced hospitality-led residential development in Mumbai, which will be ready to launch later this month,” he said.

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