SAMHI Hotels is expanding in India, with more than 3,400 rooms across 22 hotels in 10 cities. Ashish Jakhanwala, its founder, said currency issues, sluggish economic reform and impending elections have affected the country's appeal as a destination. "However, we have seen a softening of domestic interest rates over the past 12 months, which has improved our local borrowing costs," he said.

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