--- title: "SAMHI Hotels 股價上漲 8%，市場預計其增長前景可能帶來高達 55% 的上漲空間" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/281739093.md" description: "SAMHI Hotels 的股票上漲了 8.2%，達到₹147.95，受到 Choice Institutional Equities 和 Antique Stock Broking 等券商的看好評級。Choice 首次覆蓋，給予 “買入” 評級，目標價為₹200，理由是強勁的增長前景。Antique 設定的目標價為₹230，表明有 55.45% 的上漲空間。儘管面臨地緣政治衝突和市場波動的潛在風險，兩家券商仍預計通過收購和品牌重塑實現顯著的收入增長。SAMHI 的財務數據顯示，槓桿率降低，自由現金流增加，支持其自我融資的增長戰略" datetime: "2026-04-05T23:31:43.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281739093.md) - [en](https://longbridge.com/en/news/281739093.md) - [zh-HK](https://longbridge.com/zh-HK/news/281739093.md) --- # SAMHI Hotels 股價上漲 8%，市場預計其增長前景可能帶來高達 55% 的上漲空間 Bullish calls from brokerages, including Choice Institutional Equities, and Antique Stock Broking, lifted investor sentiment for SAMHI Hotels on Monday, April 6, 2026, with the stock witnessing strong buying interest in an otherwise volatile market. Following the favourable outlook, SAMHI Hotels’ share price surged 8.2 per cent to hit an intraday high of ₹147.95 on the NSE. The stock pared some gains but continued to see robust demand. At 12:26 PM, it was trading at ₹146.28 apiece, up 7 per cent from its previous close of ₹136.73. In comparison, the benchmark Nifty50 was largely flat at 22,709, down just 4 points or 0.02 per cent. ### Choice initiates coverage with ‘Buy’ Among brokerages, Choice Institutional Equities initiated coverage on SAMHI Hotels with a ‘Buy’ rating, citing its acquisition-and-rebranding model, upper-upscale expansion strategy, and strong growth in ARR and revenues. The brokerage highlighted high-margin operations, a self-funded growth model, and scalable asset-light opportunities via RARE India. Choice has assigned a target price of ₹200, valuing the company at 9x FY28E EV/Adjusted Ebitda, implying an upside potential of 49.1 per cent. Karan Kamdar and Vinay Rawal, analysts at Choice, expect SAMHI to deliver revenue, Ebitda, and PAT CAGRs of 14.3 per cent, 18.2 per cent, and 22.1 per cent, respectively, over FY26E–FY29E. Growth is expected to be driven by acquisitions, rebranding initiatives, and ongoing premiumisation. “SAMHI’s stake in RARE India positions it to build a scalable asset-light experiential platform with ₹90–100 crore revenue potential,” the analysts wrote in a research report. According to Choice, the company is expected to operate 5,677 keys across key micro-markets near corporate hubs and airports by FY29E. Its acquisition-and-rebranding model, which accounts for 87 per cent of the portfolio, continues to drive growth by turning around underperforming assets under global brands, while the remaining 13 per cent provides stability. ARR and revenue are projected to grow at CAGRs of 7.7 per cent and 14.3 per cent, respectively, over FY26E–FY29E. “With planned expansions, rebranding, and conversions to upper-upscale inventory, we expect ARR CAGR of 7.7 per cent and revenue CAGR of 14.3 per cent over FY26E–FY29E, reaffirming SAMHI’s position as a high-efficiency consolidator in India’s premium hospitality market,” Choice said. Margins are also expected to improve, supported by a lean cost structure, low OTA exposure (16 per cent), and controlled commissions (around 4.2 per cent). A higher share of room revenue (around 60 per cent), improved F&B performance, and asset upgrades are likely to drive operating leverage and expand margins by 388 basis points by FY29E. Backed by a ₹750 crore infusion from GIC and ₹210 crore in asset monetisation, SAMHI has reduced leverage, with net debt/Ebitda at 2.9x, and lowered interest costs to around 8.3 per cent. Rising free cash flow—from ₹57.7 crore in FY25 to ₹240 crore by FY29E—along with 33 per cent lower capex per key, supports its self-funded growth strategy. Finance costs are expected to decline, while PAT is projected to grow at a CAGR of 22.1 per cent over FY26E–FY29E. However, Choice cautioned that risks include extended geopolitical conflicts, leverage exposure, interest rate volatility, execution risks in asset turnarounds, operator dependence, and land title uncertainties. ### Antique retains bullish view Antique Stock Broking has retained its bullish stance on SAMHI Hotels, naming it a top pick within its hospitality coverage universe. The brokerage noted that the sector is currently facing tepid demand and heightened uncertainty due to the Middle East conflict, which has impacted inbound travel and overall domestic travel sentiment. Despite near-term headwinds, it maintained that the medium-term outlook remains structurally positive. Antique has set a target price of ₹230 per share. The assigned target price implies a 55.45 per cent upside potential from the current market price. The brokerage expects the company’s revenue to grow 8 per cent year-on-year to ₹350 crore, driven by a 14 per cent rise in average daily rates (ADR) to ₹8,500. Occupancy is projected to dip 100 basis points year-on-year to 74 per cent, resulting in a 6 per cent increase in RevPAR to ₹6,300. The company’s Ebitda margin, Antique said, is likely to contract by 160 basis points year-on-year to 36.5 per cent, primarily due to the GST impact. Adjusted for this, margins are expected to remain broadly flat compared to 38.1 per cent in Q4FY25, the brokerage said. \============================== _**(Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. 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