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."

image

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.


Banyan Tree Samui Named Thailand’s Best Spa Resort for 2026

Banyan Tree Samui Named Thailand’s Best Spa Resort for 2026

By Hariharan U

Published on April 2, 2026

In a significant recognition for luxury wellness hospitality, Banyan Tree Samui has been named the “Best Spa Resort – Thailand” at the Global Spa Awards 2026, presented by The Luxury Spa Edit.

The award reflects a combination of expert panel evaluations, insights from global travel journalists and sustainability specialists, and over 85,000 public votes, reinforcing the resort’s strong positioning in the global wellness space.

At the heart of this recognition is the resort’s integrated approach to holistic wellbeing. The spa experience at Banyan Tree Samui goes beyond traditional treatments, offering a thoughtfully curated journey rooted in its “8 Pillars of Wellbeing” philosophy, focusing on rest, nourishment, mindfulness, movement, and personal growth.

A standout feature is its signature hydrotherapy facility, The Rainforest, which takes guests through a multi-sensory circuit of water jets, saunas, steam rooms, ice fountains, and vitality pools. This immersive experience has become a defining element of the resort’s wellness offering.

Speaking on the achievement, Naphasawan Badklang, Spa & Gallery Manager, credited the team’s rigorous training at the Banyan Spa & Wellbeing Academy and their commitment to delivering personalised guest experiences. Each treatment begins with a detailed consultation, followed by customised herbal oils and signature rituals that include sound healing, breathwork, and traditional techniques.

The award also coincides with the rollout of Banyan Tree Spa 2.0, an evolved concept that blends ancient Asian healing practices with modern wellness techniques. From personalised therapies to curated closing rituals featuring herbal foot cleansing and tea ceremonies, the experience is designed to create a deeper sense of relaxation and renewal.

Set against the scenic backdrop of Koh Samui’s Lamai Bay, the resort’s 88 private pool villas further enhance the sense of seclusion and calm. Complemented by curated dining experiences, wellness programmes, and nature-integrated design, the property continues to offer a sanctuary for travellers seeking both luxury and restoration.

With this recognition, Banyan Tree Samui strengthens its reputation as one of Asia’s leading wellness destinations, setting new benchmarks for immersive and experience-driven hospitality.


The Leela Gandhinagar Marks Earth Hour with Sustainability Initiatives

The Leela Gandhinagar Marks Earth Hour with Sustainability Initiatives

By Hariharan U

Published on April 1, 2026

The Leela Gandhinagar marked Earth Hour 2026 with a focused set of sustainability-driven initiatives, reinforcing its commitment to responsible hospitality and environmental stewardship.

As part of the global movement, the hotel switched off non-essential lighting and reduced power consumption across key areas for 60 minutes, from 8:30 pm to 9:30 pm. The symbolic gesture reflected a collective effort towards climate awareness while maintaining the refined standards associated with luxury hospitality.

Beyond the hour, the initiative underscored the hotel’s broader sustainability philosophy. From energy-efficient systems to responsible resource management, environmentally conscious practices are integrated into its day-to-day operations, aligning with the evolving expectations of modern travellers.

Speaking on the occasion, Vikas Sood said, “Earth Hour reminds us that meaningful change begins with small yet consistent actions. At The Leela Gandhinagar, sustainability remains integral to how we operate and deliver thoughtful luxury experiences.”

Through its participation, the hotel continues to build on its commitment to sustainable hospitality, contributing to a more responsible and environmentally aware future.


Novotel Jodhpur ITI Circle Marks Three Years of Hospitality and Guest Experiences

Novotel Jodhpur ITI Circle Marks Three Years of Hospitality and Guest Experiences

By Manu Vardhan Kannan

Published on March 31, 2026

Novotel Jodhpur ITI Circle marked its third anniversary on 28th March, celebrating three years of hospitality, memorable guest experiences, and a growing presence in the city. Over this period, the hotel has welcomed guests from across India and abroad, hosted over 30 distinguished celebrities, and maintained a strong position among top properties on TripAdvisor since its opening.

While these milestones highlight its journey, the hotel places equal importance on the moments it has shared with its guests. Over the years, it has grown into more than just a place to stay, becoming a space where people come together for celebrations, conversations, and memorable experiences. The return of familiar faces and continued guest trust have played a key role in shaping its journey.

A key part of the hotel’s identity is its dining approach. Known for its 100% vegetarian, sattvic cuisine, the hotel focuses on meals that are prepared with care and authenticity, while also keeping well-being in mind. This thoughtful approach has helped create a strong connection with guests who value both taste and mindful dining.

image

Speaking on the occasion, Ritesh Mudgal, General Manager, said:

"These three years have been incredibly special for us. Beyond numbers and milestones, it’s the relationships we’ve built and the memories we’ve been part of that truly define our journey. We are deeply grateful to our guests for their continued trust and support."

Looking ahead, Novotel Jodhpur ITI Circle remains focused on growing further while continuing to offer experiences that reflect warmth, comfort, and flavour.

Three years. Countless memories. Infinite flavours.

Stay up-to-date with the latest Hospitality news and trends in the Hospitality industry!

Subscribe to Hospitality news e-magazine for free and never miss an issue.

By clicking subscribe for free you agree to the Terms & Conditions and acknowledge our Privacy Policy.

Advertise With Us

We have various options to advertise with us including Events, Advertorials, Banners, Mailers, etc.