NCLT Approves Macrotech Developers' Acquisition of V Hotels in Mumbai

NCLT Approves Macrotech Developers' Acquisition of V Hotels in Mumbai

By Nishang Narayan

Published on May 3, 2024

The National Company Law Tribunal (NCLT) has given the green light for Macrotech Developers, owned by Lodha Group, to acquire the assets of V Hotels, the company behind the renowned Tulip Star Hotel, formerly known as Centaur Hotel. The property, situated in the affluent Juhu area of Mumbai, was acquired for approximately INR 890 crore.

This approval marks a significant development in the resolution of V Hotels' bankruptcy proceedings, where the hotel entity reported liabilities exceeding INR 2,500 crore. Macrotech's resolution plan, favored unanimously by financial lenders in June 2023, involves an upfront payment of INR 78 crore to secured financial creditors, with the remainder to be settled in two subsequent payments.

The strategic location of the Tulip Star Hotel, along with its historical significance, made it a highly sought-after asset, attracting bids from major players like Oberoi Realty and K Raheja Corp, among others. According to Ashish Pyasi, partner at Aendri Legal, "The prime location significantly enhanced the property's appeal, drawing considerable interest from potential bidders."

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Located on a 6.1-acre land parcel in Vile Parle, the non-operational hotel includes 367 keys, restaurants, and banquet facilities, with potential for redevelopment into residential, commercial, or retail spaces. Additionally, V Hotels holds ownership of 11 residential apartments in Mumbai's western suburbs.

The insolvency proceedings for Tulip Star Hotels began in 2019, underwent various legal challenges, and saw significant developments, including a Supreme Court decision in August 2022 that ultimately reinstated the NCLT's resolution process. With 68 claims totaling over INR 9,621 crore filed under this process, the acquisition by Macrotech Developers marks a pivotal resolution in the protracted legal and financial saga surrounding this iconic property.


Rosetta Hospitality Bags Dual Wins in Tripadvisor’s 2025 Travelers’ Choice Awards

Rosetta Hospitality Bags Dual Wins in Tripadvisor’s 2025 Travelers’ Choice Awards

By Manu Vardhan Kannan

Published on May 9, 2025

It’s a proud moment for Rosetta Hospitality as both of its signature properties, Rosetta Sakleshpur and Elements by Rosetta - Varca, Goa have been named winners of the Tripadvisor Travelers’ Choice Awards 2025, earning spots among the top 10% of hotels worldwide.

This recognition is based entirely on consistent ratings and reviews shared by real guests on Tripadvisor over the past year, making it one of the most trusted awards in the global travel industry.

Celebrating businesses that go above and beyond in delivering exceptional guest experiences, the Travelers’ Choice Awards spotlight those who create lasting impressions and memorable stays. For Rosetta Hospitality, this double win highlights its dedication to thoughtful service, detail-driven design, and culturally rich experiences.

“This dual recognition is a proud milestone for our brand,” said Jai Sreedhar, Joint Managing Director & CEO, Rosetta Hospitality. “It reaffirms our commitment to delivering thoughtfully curated experiences — whether set amidst the expansive coffee plantations of Sakleshpur or in the serene tropical setting of Varca in South Goa.”

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At Rosetta Sakleshpur, guests enjoy serene, nature-immersed stays surrounded by lush coffee estates. In contrast, Elements by Rosetta – Varca offers a modern blend of Goan charm and contemporary comfort, promising warm hospitality near South Goa’s scenic beaches.

Kristen Dalton, President at Tripadvisor, congratulated the brand, stating, “Congratulations to Rosetta Hospitality for this remarkable achievement. Ranking among the top hotels worldwide is a true testament to the trust and appreciation of your guests.”

With this recognition, Rosetta Hospitality continues to strengthen its reputation as a leading name in Indian luxury getaways, offering a unique mix of tranquillity, culture, and impeccable service.


Sterling Strengthens Spiritual Circuit with New Resort at Rudraprayag

Sterling Strengthens Spiritual Circuit with New Resort at Rudraprayag

By Nishang Narayan

Published on May 9, 2025

Sterling Holiday Resorts is deepening its commitment to spiritual tourism with the launch of Sterling Kastoori Rudraprayag, a peaceful yet well-connected Himalayan retreat for pilgrims and travellers alike. This marks Sterling’s 11th property in its spiritual circuit and 7th resort in Uttarakhand, reinforcing its strategic focus on meaningful, immersive travel experiences in sacred destinations.

Located just 2 km from the revered confluence of the Alaknanda and Mandakini rivers, the new resort is perfectly placed on the Badrinath Highway, serving as a base for Char Dham yatris, nature enthusiasts, and adventure seekers heading to treks like Tungnath, Deoriatal, and Chandrashila.

The resort offers a range of thoughtfully designed accommodations—from cozy rooms to elegant suites with private balconies and panoramic valley views. Guests can unwind with pure vegetarian regional cuisine at Vatika, which also offers Jain meals, or grab a comforting sip at Chai & You, the in-house café lounge.

Adding to its appeal, the property includes a banquet hall for up to 60 guests, ideal for intimate retreats, spiritual gatherings, or corporate offsites. With Chopta nearby and excellent road access from Haridwar and Rishikesh, the resort is both serene and convenient.

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“Sterling Kastoori Rudraprayag is a strategic step in our vision to bring transformational travel experiences to destinations rich in spiritual and natural significance,” said Mr. Vikram Lalvani, MD & CEO, Sterling Holiday Resorts.

Shri Mahabeer Singh Panwar, MD of Hotel Kastoori Inn, added, “We’re proud to partner with Sterling. Their guest-first approach ensures that this new resort will set a new benchmark for hospitality in the region.”

With spiritual tourism in India poised for significant growth, Sterling’s expanding portfolio includes destinations like Rishikesh, Haridwar, Guruvayur, Puri, Amritsar, and more. This latest launch further solidifies its leadership in catering to spiritually inclined travellers seeking curated experiences.

About Sterling Holiday Resorts Ltd.

Sterling Holiday Resorts operates across 54 destinations with 62 resorts and over 3,200 operational keys. Its diverse offerings span hills, beaches, jungles, spiritual hubs, heritage spots, and more. A wholly owned subsidiary of Thomas Cook (India) Ltd and part of Fairfax Financial Holdings, Sterling continues to grow its presence in India’s leisure and spiritual tourism space.


Ambica Empire Wins Big with Triple Honours at 2025 Achievers Award

Ambica Empire Wins Big with Triple Honours at 2025 Achievers Award

By Nishang Narayan

Published on May 9, 2025

Ambica Empire, Chennai’s beacon of luxury and excellence, made a powerful mark at the Achievers Award Ceremony 2025, hosted by News7 Channel and the Indian Seafarers Welfare Organisation (ISWOT), by sweeping three major awards—further reinforcing its legacy in the hospitality industry.

The hotel was recognised as the Best Premium Business Hotel of the Year 2025 (4-star facilities). This award stands as a testament to Ambica Empire’s unwavering dedication to top-tier service, comfort, and world-class hospitality—making it a preferred choice for discerning business and leisure travellers alike.

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Adding a personal victory to the occasion, Mr. R. Kalathinathan, General Manager of Hotel Ambica Empire & Ambica Group of Hotels, was awarded the Best Outstanding Performer of the Year 2025. Known for his humble leadership style, decades of expertise, and an unshakeable commitment to service, Mr. Kalathinathan continues to lead the Ambica brand to greater heights. His ability to build a culture of integrity and excellence makes him a true stalwart of the industry.

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Another proud moment came when Ms. R.K. Pushpalatha, Admin Manageress at Hotel Ambica Empire, was honoured with the Woman of Excellence in Hospitality 2025 award. With 25 years of dedicated service, her contribution to the hotel and the wider hospitality industry is both inspiring and invaluable. Known for her coordination skills and support for women empowerment, her motto—“Qualify yourself, aim high, and choose excellence”—continues to inspire the next generation of hospitality professionals.

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The award ceremony was attended by esteemed dignitaries, adding further prestige to the event. Notable guests included Dr. Tamilisai Soundararajan (Former Governor of Telangana & Lt. Governor of Puducherry), Hon’ble Justice Thiru. SK. Krishnan, Dr. K. Venkatesan, Mr. Krishna Kumar R (Advocate & Secretary, Madras High Court Advocate Association), Dr. A. Babu Mailan (Founder & Chairman, ISWOT), Mr. R.M. Ibrahim (Deputy Collector), Dr. C.A. Mohanraj (VP, Tamil Seidhi Vaasipaalargal Sangam & Special Police Warden), and Dr. P. Dhanasekar (MD, DSP Groups), among others.

Under the visionary guidance of Mr. Kalathinathan, who carries over 35 years of experience and multiple industry accolades, and the exceptional dedication of Ms. Pushpalatha, Ambica Empire continues to shine as a leader in Indian hospitality.

This triple recognition celebrates more than just achievements—it’s a reflection of Ambica Empire’s enduring spirit, team excellence, and heartfelt service. As they proudly say:
“Guests who stay with us, always stay with us.”

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