This week, I sold my entire holding at 198 and bought Syrma SGS. There are so many moving variables in Samhi and with hotel industry for that matter. When I invested in this small cap, my expectation was to get good gain but it’s really flat since a year.
On the other hand I can see fundamentally sound growth prospects in Syrma for the next few years.
I sensed that PE investors will lose their patience, given all other variables that go around, esp with bond yields, currency and more…I exited around 210 and will reconsider this, when this dips to a level, where it will discount, every negative possible. I might be wrong in this (as it has happened often in the past 
) and for all you know, the price might put egg on my face but I have to accept that and move on. Often in the past, my exit decisions made me look very savvy for a few days, before mocking back at me !!
PS - not sebi registered and this is not a buy/sell reco
Samhi Hotels will be valued between 8000-10000 cr market cap in future based on valuations. Positive triggers, QIP to reduce debt, some major corporate house buys PE stake, this will prompt to a large rerating, Ashish might stay as MD. I will stick to it as i am unable to find much in markets as of now. Though portfolio is down by 10%, Samhi has performed well in recent correction. Kalyan Jeweller was my top holding with 25% allocation, sold off all holdings between 690-750 range and increased Samhi holdings around 180 levels. Avoiding loss is a major achievement in todays market, you never know which stock will be sold for no reason:joy:
I Like park over Samhi , it’s not clear what Samhi’s “asset lite “ business model is
asst lite means they don’t own the property they just get them on long leases which makes it easier for rapid expansion and does not lead to delays which are there in get the properties in their own name and other problems that comes with owning the asset.
The bellweather of the hospitality sector, IHCL has given strong Q3 results
Topline has increased by over 35% QoQ, last quarter it had an accounting adjustment exceptional item influencing the bottom line, keeping that aside the PBT has increased over 2x QoQ
I would say it augurs well for our minnow SAMHI and an EBITDA of 450 crores for the full year seems a distinct possibilty … 
Another hotel co. Gujarat hotel gave good result. Itc hotel has 45% stake in it.
