Goldman invests 4.4b rupees in India hotel firm

New Delhi

GOLDMAN SACHS has invested 4.4 billion rupees (S$94 million) for a significant minority stake in Indian hotel investment and development firm Samhi Hotels, the companies said in a statement on Tuesday.

Samhi, which operates 10 hotels and is developing 16 more, will use the money to grow its portfolio to about 30 to 35 properties, the company's chief executive officer Ashish Jakhanwala told Reuters.