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.


Suba Hotels Commences Operations of Click Collection Hotel in Gangtok

Suba Hotels Commences Operations of Click Collection Hotel in Gangtok

By Hariharan U

Published on December 31, 2025

Suba Hotels has officially commenced operations of Click Collection Hotel, Gangtok, marking its second landmark presence in the capital city of Sikkim. The new property strengthens the group’s growing footprint in the Northeast and reinforces its focus on delivering contemporary hospitality in emerging leisure destinations.

Strategically located at Bojoghari, Indra Bypass Road, near the helipad and within easy reach of popular attractions such as MG Marg and Tsomgo Lake, Click Collection Hotel Gangtok offers travellers a comfortable base to explore the city while enjoying scenic valley views. The hotel is designed to cater to both leisure and business travellers seeking modern comforts in a relaxed mountain setting.

The property features 42 thoughtfully designed rooms and suites, blending functional design with warm interiors suited for today’s urban traveller. Guests can expect well-appointed amenities, attentive service, and a stay experience aligned with Suba Hotels’ signature standards of efficiency and comfort.

With its convenient location, contemporary rooms and focus on guest-centric service, Click Collection Hotel Gangtok aims to become a preferred choice for visitors travelling to Sikkim for holidays, business trips or short city getaways. The opening also reflects Suba Hotels’ continued expansion strategy across key tourism-driven and emerging markets in India.

As travel demand to Northeast India continues to rise, the launch of Click Collection Hotel Gangtok positions Suba Hotels to tap into the region’s growing popularity while offering travellers a reliable and comfortable hospitality option in the heart of Gangtok.


Six Ways to Celebrate the Festive Season the Reserve Way at Phulay Bay, a Ritz-Carlton Reserve

Six Ways to Celebrate the Festive Season the Reserve Way at Phulay Bay, a Ritz-Carlton Reserve

By Author

Published on December 29, 2025

Phulay Bay, a Ritz-Carlton Reserve, invites discerning travellers to celebrate the festive season in an atmosphere of timeless rituals, refined gastronomy, and serene natural beauty along the untouched shores of the Andaman Sea. This year-end, the ultra-luxury retreat presents six thoughtfully curated experiences that blend cultural authenticity, culinary excellence, and meaningful moments of celebration.

The festive journey begins with a sacred traditional Buddhist monk blessing at Sala Srichan, coinciding with Phulay Bay’s 16th anniversary of warm hospitality. As the sun sets over the sea, guests are welcomed with cocktails followed by a special anniversary dinner inspired by the four elements—Earth, Water, Air, and Fire—artfully crafted by Michelin-starred Executive Chef Christian Herrgesell.

Christmas Eve at Phulay Bay is marked by one of the resort’s most enchanting traditions, as Santa arrives by long-tail boat at sunset. The day unfolds with a festive breakfast, engaging children’s workshops, and culminates in an elegant Christmas Eve dinner under the stars at Jampoon, where classic holiday flavours are reimagined with a tropical twist.

On Christmas Day, the celebration continues with “Gifts from the Grove,” a showcase of handcrafted ornaments by local artisans, family-friendly activities, and a vibrant Christmas Buffet and Market Fair on the Pool Lawn. Guests can enjoy gourmet food stations and a lively festive ambience beneath the night sky.

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For those seeking an elevated culinary experience, the Intimate Champagne Pairing Evening on 28 December offers an exclusive dinner for just 20 guests at Sala Srichan. A refined four-course menu is paired with exceptional Ruinart champagnes, creating an evening of elegance, artistry, and indulgence.

New Year’s Eve transports guests back in time with “A Night of Siam,” inspired by the era of King Rama VI, when Western elegance merged seamlessly with Siamese grace. The evening features sunset cocktails, a grand gala dinner with cultural performances, and transitions into a beachfront countdown party with live DJ music and fireworks illuminating the Andaman Sea.

As midnight approaches, celebrations move to the sandy shores of Chomtawan Bar, where festive cocktails, energetic music, and a spectacular fireworks display welcome 2026 in signature Phulay Bay style. The festivities conclude on a serene note with a New Year’s Day brunch at Jampoon, followed by the traditional Thai monk offering ceremony, Tak Bat—a meaningful ritual symbolising gratitude, generosity, and new beginnings.


A First for Indian Hospitality: Taj Exotica Goa and Tata Power Champion Clean Energy Storage

A First for Indian Hospitality: Taj Exotica Goa and Tata Power Champion Clean Energy Storage

By Author

Published on December 28, 2025

In a landmark step towards sustainable luxury, Taj Exotica Resort & Spa, Goa has partnered with Tata Power to implement one of the most advanced Battery Energy Storage Systems (BESS) in the Indian hospitality sector. This initiative marks Tata Power’s first BESS deployment in the hospitality industry and positions Taj Exotica Goa as the first hotel in India to adopt this pioneering clean energy solution.

With an approximate storage capacity of 2 MW, the BESS project represents a significant milestone in IHCL’s decarbonisation journey under Paathya, aligned with the Tata Group’s Aalingana vision for climate-positive growth. The installation has been executed by Tata Power following detailed technical feasibility studies, with an investment of approximately ₹3.50 crore and projected annual savings of around ₹1.50 crore, while substantially reducing dependence on diesel-based power generation.

Commenting on the initiative, Ms. Sheetal Singh, Area Director – South Goa and General Manager, Taj Exotica Resort & Spa, Goa, said:
“Sustainability is at the core of our ethos at Taj Exotica, Goa. The BESS project is an exemplary step in modernising the way hospitality manages energy. By reducing diesel dependence and enhancing power reliability, we are embracing innovation that directly contributes to a greener, more resilient future for our hotel and our community.”

The system is expected to reduce nearly 2 lakh litres of High-Speed Diesel (HSD) annually, leading to a substantial drop in carbon emissions and operational costs. Beyond financial and environmental benefits, the BESS improves power quality, minimises generator runtime, and significantly lowers air emissions.

Given Taj Exotica Goa’s multi-source power ecosystem, comprising grid supply, diesel generators, and solar energy, a sophisticated interlocking and protection system was jointly developed with Tata Power. This includes automated source prioritisation logic, prevention of backfeed and overload, real-time monitoring, advanced safety cut-offs, thermal and surge protection, emergency shutdown protocols, and manual override operations.

To ensure uninterrupted guest comfort and electrical stability, comprehensive safety simulations and load-bank tests were conducted. The physical installation was completed in mid-November 2025, followed by full-load testing, where the system demonstrated stable discharge curves and precise switching performance.

The engineering team, led by Mr. Athen Chellappa, Area Director Engineering – Goa, carried out extensive simulations of power outage scenarios. These validated automatic diesel generator synchronisation, priority-based charging from solar and grid sources, interlocking accuracy, changeover timings, and internet connectivity critical for cloud-linked operations. The system is further supported by an interactive digital dashboard offering real-time energy flow visibility, battery health diagnostics, predictive maintenance alerts, and detailed historical reports on consumption and savings.

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Summarising the impact of the project, Mr. Ranjit Phillipose, Senior Vice President – Operations, IHCL Goa, stated:
“The BESS project at Taj Exotica Resort & Spa, Goa is not just an engineering achievement—it is a defining moment in our sustainability journey. By embracing cutting-edge technology and reducing our reliance on fossil fuels, we are setting new benchmarks for responsible luxury. This initiative reflects our belief that the future of hospitality is clean, resilient, and climate-conscious, and we are proud to pioneer that change.”

With this breakthrough collaboration, Taj Exotica Goa and Tata Power have set a powerful precedent for the Indian hospitality industry, demonstrating how innovation, sustainability, and luxury can seamlessly converge to shape a cleaner and more resilient future.

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