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By Author
Published on February 2, 2024
In a significant development in the Indian hospitality sector, Shri Ram Multicom has disclosed its plans to acquire Sarga Hotels, as per a resolution approved by the Kolkata bench of the National Company Law Tribunal (NCLAT). This move marks a pivotal point in the company's expansion strategy within the industry.
The acquisition, valued at Rs3.01 billion ($36.20 million), is being facilitated under the framework of the Insolvency and Bankruptcy Code (IBC). The resolution plan has garnered the support of the creditors, who have claims amounting to Rs 8.16 billion ($98.16 million) against Sarga Hotels.
Shri Ram Multicom has a proven track record in the development of Fairfield Hotel and has substantial experience in managing malls and hotels in Jharkhand. The acquisition of Sarga Hotels is expected to bolster the company's presence in the hospitality sector.
Key stakeholders including creditors Rare ARC and JC Flowers Asset Reconstruction Company have expressed their support for Shri Ram Multicom’s resolution plan, indicating a positive reception from the financial sector.
Sarga Hotels, a wholly-owned subsidiary of Shristi Infrastructure Development Corporation, is currently under the ownership of the Kanoria family, who are also known for their management of SREI Infrastructure Finance and Srei Equipment Finance. These companies were previously acquired through the IBC process by the National Asset Reconstruction Company, backed by the government.
The corporate journey of Sarga Hotels has witnessed significant developments. The company entered corporate insolvency in August 2020 and successfully exited the process a year later, following the NCLAT's decision to overturn the initial admission order. Shri Ram Multicom initiated its second admission for the acquisition in February 2022.
Sarga Hotels' key property, The Westin Kolkata Rajarhat, is situated in the New Town area in Kolkata. The hotel is known for its diverse range of accommodations and dining options, including a rooftop bar and the Seasonal Tastes restaurant. It also boasts an event space of 1,225 square meters capable of accommodating up to 1,300 guests. Additional amenities include a fitness center, outdoor pool, spa, gift shop, and complimentary Wi-Fi.
This acquisition by Shri Ram Multicom is set to bring new dynamics to the hospitality landscape, with expectations of enhanced service quality and operational efficiency at Sarga Hotels.
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By Hariharan U
Published on February 22, 2026
Cygnett Hotels & Resorts has announced the signing of Cozzet Amritsar, marking a strategic expansion of its value-driven brand in Punjab’s thriving hospitality market.
The upcoming 54-key property will strengthen the group’s presence in one of North India’s most resilient tourism and commercial hubs, Amritsar.
Cozzet Amritsar will feature 54 well-appointed rooms, an all-day dining restaurant and a banquet facility equipped with modern technology, capable of hosting up to 500 guests.
The hotel is located approximately 20 minutes from the iconic Golden Temple and about 30 minutes from Sri Guru Ram Dass Jee International Airport. Its proximity to religious landmarks, retail districts and commercial zones positions it to cater to a balanced mix of pilgrimage, leisure, wedding and corporate demand.
Amritsar continues to record strong year-round footfall, driven by domestic and international visitors. Improved road infrastructure and enhanced airport connectivity have further strengthened demand across the midscale and upper-midscale hotel segments.
Cozzet Hotels are designed around a simple promise, clean rooms, quality food, reliable service and essential comforts such as Wi-Fi, gym access and hot showers, all at smart price points. Each property reflects a distinct local identity while maintaining consistent service standards.
Cozzet Amritsar will target value-conscious travellers seeking comfort, efficiency and dependable hospitality without compromising on experience.
Commenting on the signing, Sarbendra Sarkar, Founder and Managing Director, Cygnett Hotels & Resorts, said, “Amritsar is a high-performing hospitality market with strong year-round demand across pilgrimage, leisure and social events. With Cozzet Amritsar, we are strengthening our presence in Punjab by offering a product that balances comfort, efficiency and value. The city's improving infrastructure and expanding commercial activity make it a compelling long-term market for organised hospitality brands.”
The addition of Cozzet Amritsar aligns with Cygnett’s asset-light expansion strategy focused on high-growth secondary cities with strong demand fundamentals and limited organised supply.
Beyond the Golden Temple, the hotel’s location also offers convenient access to the Wagah Border, the War & Partition Museum and Amritsar’s bustling shopping streets, making it an attractive base for both business and leisure travellers.
With this signing, Cygnett continues to deepen its presence in North India, tapping into markets where tourism, weddings and corporate travel converge to drive sustained hospitality growth.
By Manu Vardhan Kannan
Published on February 20, 2026
Holiday Inn New Delhi Mayur Vihar Noida has unveiled its newly renovated suites, thoughtfully designed for business and leisure travellers looking for comfort, style, and modern convenience. These suites reflect the changing expectations of today’s guests, where elegant design meets practical luxury.
Located on the hotel’s higher floors, the suites offer sweeping panoramic views of the city skyline, setting a calm and relaxing tone for the stay. The overall design focuses on comfort, wellness, and functionality, making the suites ideal for guests who value both relaxation and efficiency.
The interiors feature Belgian hardwood flooring, adding warmth and a timeless appeal to the space. Each suite includes a separate living room and dining area, offering ample room to unwind or host informal meetings. The bedrooms are spacious and well-planned, with comfortable seating areas that allow guests to relax while taking in the city views.
To ensure year-round comfort while keeping sustainability in mind, the suites are fitted with advanced energy-efficient air-conditioning systems that provide effective climate control with reduced environmental impact.
For added convenience, the suites include an elegant powder room along with a large bathroom featuring either a walk-in shower or a soaking bathtub. Guests also have access to a well-designed walk-in wardrobe and generous luggage storage space.
One of the most distinctive features of these suites is the private steam room, a rare offering that adds an extra layer of relaxation and wellness for guests seeking a rejuvenating experience during their stay.
Entertainment and refreshments are equally well taken care of. A fully stocked bar cabinet meets all refreshment needs, while 65-inch LED televisions placed in both the living area and bedroom ensure a seamless and immersive viewing experience throughout the suite.
“Our goal has always been to create spaces where guests feel truly at home. These new suites are not just about luxury, they are about thoughtful design, wellness and moments of calm in the midst of a bustling city. Every detail, from the panoramic views to intricate interiors and the private steam room, is intended to make our guests' stay not only comfortable but memorable”. said Anurag Rai, General Manager, Holiday Inn New Delhi Mayur Vihar Noida.
Hotel Address:
Published on February 19, 2026
Al Habtoor Palace has retained its prestigious Four-Star rating in the 2026 Star Awards by Forbes Travel Guide, reaffirming its position among the world’s distinguished luxury hospitality destinations. The 68th annual Star Awards span 100 countries and recognise excellence in hotels, restaurants, spas, and cruise experiences.
Overlooking the scenic Dubai Water Canal, Al Habtoor Palace is renowned for its Beaux-Arts-inspired architecture and palatial interiors. The hotel features 182 guest rooms and 52 suites, offering a seamless blend of classical elegance and contemporary comfort. A signature highlight is its bespoke butler service, ensuring personalised attention and a refined guest journey from arrival to departure.
Culinary excellence remains central to the hotel’s identity, with a curated collection of fine dining venues presenting world-class cuisine in sophisticated settings. Guests can also unwind at the award-winning spa, designed to deliver restorative treatments and holistic relaxation experiences.
Located within Al Habtoor City, the property enjoys prime access to Sheikh Zayed Road and Dubai’s cultural and entertainment hubs. With state-of-the-art event spaces and elegant surroundings, the hotel continues to be a sought-after venue for corporate gatherings, weddings, and grand celebrations.
Stefan Radstrom, Complex General Manager of the Al Habtoor City Hotel Collection, said, “We are truly honoured to be awarded the Forbes Travel Guide Four-Star Rating for 2026. This recognition celebrates our continuous dedication to delivering an exceptional experience for every guest. We take pride in offering unmatched service, refined comfort, and world-class amenities with every stay.”
Amanda Frasier, President of Standards & Ratings at Forbes Travel Guide, added, “Forbes Travel Guide’s Star Award winners exemplify excellence in hospitality. This year’s list reflects the changing landscape of luxury, with properties setting the standard for authentic experiences while offering unparalleled amenities and enhanced well-being.”
The continued recognition underscores Al Habtoor Palace’s commitment to meticulous service, elevated experiences, and timeless luxury in the heart of Dubai.
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