India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Bottom-Up

<ul>
<li>SAMHI Hotels is acquiring a 70% stake in RARE India for 470 million, pivoting from traditional business hotels toward high-growth, asset-light experiential leisure properties.</li>
<li>The deal integrates 67 boutique properties into Marriott’s global distribution network, aiming to scale a niche B2B service into a dominant B2C consumer brand.</li>
<li>This strategic shift targets 1 billion in revenue and significantly higher operating margins of 35-40% as the platform scales over the next five years. 
</li>
</ul>


SAMHI Hotels is acquiring a 70% stake in RARE India for 470 million, pivoting from traditional business hotels toward high-growth, asset-light experiential leisure properties.
The deal integrates 67 boutique properties into Marriott’s global distribution network, aiming to scale a niche B2B service into a dominant B2C consumer brand.
This strategic shift targets 1 billion in revenue and significantly higher operating margins of 35-40% as the platform scales over the next five years. 



Event Driven: SAMHI Hotels~ Strategic Expansion into High-Margin Hotels Via RARE India Acquisition

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Thematic (Sector/Industry)

<ul>
<li>The ongoing US–Israel–Iran conflict has disrupted Middle East aviation hubs, increasing travel costs and reducing inbound tourist flows to India especially high-spending Western travelers.</li>
<li>Luxury hotel operators like EIH Ltd and Indian Hotels Company Limited face near-term pressure on ARR, RevPAR, and MICE revenues due to their reliance on international guests.</li>
<li>Despite inbound weakness, India’s domestic tourism supercycle (corporate travel, weddings, pilgrimage) provides a strong demand floor benefiting domestic-focused players like Lemon Tree Hotels Ltd and SAMHI Hotels Ltd.</li>
</ul>


The ongoing US–Israel–Iran conflict has disrupted Middle East aviation hubs, increasing travel costs and reducing inbound tourist flows to India especially high-spending Western travelers.
Luxury hotel operators like EIH Ltd and Indian Hotels Company Limited face near-term pressure on ARR, RevPAR, and MICE revenues due to their reliance on international guests.
Despite inbound weakness, India’s domestic tourism supercycle (corporate travel, weddings, pilgrimage) provides a strong demand floor benefiting domestic-focused players like Lemon Tree Hotels Ltd and SAMHI Hotels Ltd.


How the Middle East War Is Reshaping Indian Hospitality?

<ul>
<li>Mid-Market players <a href="https://www.smartkarma.com/entities/samhi-hotels-ltd" target="_blank" data-smartkarma-citation="entities:28359:1" rel="noopener">SAMHI Hotels (SAMHI IN)</a> and <a href="https://www.smartkarma.com/entities/lemon-tree-hotels-ltd" target="_blank" data-smartkarma-citation="entities:26159:1" rel="noopener">Lemon Tree Hotels Ltd (LEMONTRE IN)</a> led FY18-24 revenue and EBITDA growth with 16%/31% and 14%/25% CAGRs respectively, reflecting aggressive expansion. </li>
<li>FY24 saw strong average occupancy of 72% with rising RevPAR across luxury (high ARR) and mid-scale (volume) segments. </li>
<li>
<a href="https://www.smartkarma.com/entities/indian-hotels-co-ltd" target="_blank" data-smartkarma-citation="entities:5774:1" rel="noopener">Indian Hotels (IH IN)</a> and Lemon Tree lead the pipeline with 74% and 59% key growth, driven by asset-light strategies for faster scale-up.</li>
</ul>


Mid-Market players SAMHI Hotels (SAMHI IN) and Lemon Tree Hotels Ltd (LEMONTRE IN) led FY18-24 revenue and EBITDA growth with 16%/31% and 14%/25% CAGRs respectively, reflecting aggressive expansion. 
FY24 saw strong average occupancy of 72% with rising RevPAR across luxury (high ARR) and mid-scale (volume) segments. 

Indian Hotels (IH IN) and Lemon Tree lead the pipeline with 74% and 59% key growth, driven by asset-light strategies for faster scale-up.


Indian Hotel Industry: A Comparative Analysis of Top Hotel Chains

<ul>
<li>India’s economy is facing a temporary slowdown but there is one sector which ditched the slowdown trend </li>
<li>The leader of sector just said their upcoming quarter Q4FY25 will be similar to Q3FY25.</li>
<li>The hotel sector is slowly turning into a non-cyclical sector from a cyclical sector.</li>
</ul>


India’s economy is facing a temporary slowdown but there is one sector which ditched the slowdown trend 
The leader of sector just said their upcoming quarter Q4FY25 will be similar to Q3FY25.
The hotel sector is slowly turning into a non-cyclical sector from a cyclical sector.


Thematic Report: How Indian Hotel Sector Is Bucking the Trend of Slowdown?

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

<ul>
<li>Insider buying spanned across 40+ stocks in June 2025, highlighting continued conviction among promoters, directors, and trusts.</li>
<li>While, there were fewer companies with market cap above USD 1 bn which saw insider buying, this number was significantly higher (35 count) in smaller names.</li>
<li>Companies which have zoomed after the insider purchases include - <a href="https://www.smartkarma.com/entities/lt-foods-ltd" target="_blank" data-smartkarma-citation="entities:20784:1" rel="noopener">LT Foods Ltd (LTFO IN)</a> (+10%), Valor Estate (+11%). In smaller names - <a href="https://www.smartkarma.com/entities/man-industries-india-ltd" target="_blank" data-smartkarma-citation="entities:20233:1" rel="noopener">Man Industries (India) (MAN IN)</a> (+88%)</li>
</ul>


Insider buying spanned across 40+ stocks in June 2025, highlighting continued conviction among promoters, directors, and trusts.
While, there were fewer companies with market cap above USD 1 bn which saw insider buying, this number was significantly higher (35 count) in smaller names.
Companies which have zoomed after the insider purchases include - LT Foods Ltd (LTFO IN) (+10%), Valor Estate (+11%). In smaller names - Man Industries (India) (MAN IN) (+88%)


India Insider Buying – June '25: Strong Activity in Small Caps, Limited Participation in Large Caps.

India

SAMHI Hotels Limited operates as a real estate owner and developer. The Company builds and develops hotels. SAMHI Hotels serves customers in India. 

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SAMHI Hotels (SAMHI IN)

Event Driven: SAMHI Hotels~ Strategic Expansion into High-Margin Hotels Via RARE India Acquisition

SAMHI Hotels acquires 70% stake in RARE India for 470 million, shifting focus to experiential leisure properties with goal of 1 billion revenue...

Sudarshan Bhandari

How the Middle East War Is Reshaping Indian Hospitality?

US-Israel-Iran conflict disrupts Middle East aviation, impacting luxury hotels in India with reliance on international guests, while domestic...

Nimish Maheshwari

Indian Hotel Industry: A Comparative Analysis of Top Hotel Chains

Mid-Market players SAMHI Hotels and Lemon Tree Hotels show strong revenue and EBITDA growth, with aggressive expansion driving performance in FY18...

Sudarshan Bhandari

Thematic Report: How Indian Hotel Sector Is Bucking the Trend of Slowdown?

Despite India's temporary economic slowdown, the hotel sector remains resilient and is transitioning into a non-cyclical industry.

Nimish Maheshwari

India Insider Buying – June '25: Strong Activity in Small Caps, Limited Participation in Large Caps.

India Insider buying spanned across 40+ stocks in June 2025. Strong activity seen in small cap companies and few companies in large cap.

Sreemant Dudhoria

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Event Driven: SAMHI Hotels~ Strategic Expansion into High-Margin Hotels Via RARE India Acquisition

​SAMHI Hotels acquires 70% stake in RARE India for 470 million, shifting focus to experiential leisure properties with goal of 1 billion revenue...

Sudarshan Bhandari

How the Middle East War Is Reshaping Indian Hospitality?

​US-Israel-Iran conflict disrupts Middle East aviation, impacting luxury hotels in India with reliance on international guests, while domestic...

Nimish Maheshwari

Indian Hotel Industry: A Comparative Analysis of Top Hotel Chains

​Mid-Market players SAMHI Hotels and Lemon Tree Hotels show strong revenue and EBITDA growth, with aggressive expansion driving performance in FY18...

Sudarshan Bhandari

Thematic Report: How Indian Hotel Sector Is Bucking the Trend of Slowdown?

​Despite India's temporary economic slowdown, the hotel sector remains resilient and is transitioning into a non-cyclical industry.

Nimish Maheshwari

India Insider Buying – June '25: Strong Activity in Small Caps, Limited Participation in Large Caps.

India Insider buying spanned across 40+ stocks in June 2025. Strong activity seen in small cap companies and few companies in large cap.

Sreemant Dudhoria

SAMHI Hotels acquires 70% stake in RARE India for 470 million, shifting focus to experiential leisure properties with goal of 1 billion revenue...

US-Israel-Iran conflict disrupts Middle East aviation, impacting luxury hotels in India with reliance on international guests, while domestic...

Mid-Market players SAMHI Hotels and Lemon Tree Hotels show strong revenue and EBITDA growth, with aggressive expansion driving performance in FY18...

Despite India's temporary economic slowdown, the hotel sector remains resilient and is transitioning into a non-cyclical industry.