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Branded hotel ownership and asset management company SAMHI Hotels said on Tuesday that it has received formal confirmation from the Maharashtra Industrial Development Corporation (MIDC) granting an extension to the development timeline for its hotel project in Navi Mumbai. The company said the approval clears the path for SAMHI to commence development of a dual-branded hotel comprising 700 rooms near the Navi Mumbai International Airport and DY Patil Stadium, with the phase one development planned at 400 rooms.Proposed to be operated under the Westin and Fairfield by Marriott brands (subject to the execution of definitive agreements), the proposed project will be SAMHI’s largest hotel asset by number of rooms. "We are delighted to receive MIDC’s confirmation, which unlocks a transformational opportunity for SAMHI in Mumbai Metropolitan Region. This development will be a large, marquee addition to our portfolio, with a complementary dual branded hotel under the Westin and Fairfield by Marriott brands," said Ashish Jakhanwala, chairman and managing director, SAMHI Hotels. "This positions us to capture the diverse demand segments around the Navi Mumbai International Airport and DY Patil Stadium corridor. By prioritizing phase one at 400 rooms, we can bring high-quality capacity to market sooner, align with infrastructure timelines, and scale efficiently to the full 700 rooms thereafter. As our single largest hotel by rooms, it meaningfully advances our scale and strengthens our presence in a critical gateway market. With this SAMHI has covered all key office markets across India," he added. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onsamhi hotelsMIDCSAMHI HotelsNavi MumbaiMumbai Metropolitan RegionDY Patil Stadium (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onsamhi hotelsMIDCSAMHI HotelsNavi MumbaiMumbai Metropolitan RegionDY Patil Stadium(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
