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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 October 9, 2025
Planet Ocean Underwater Hotels has launched a UAE engagement initiative as part of its Global Alliance Collaborator (GAC) program. The program connects communities and organizations across the UAE with global partners, supporting the development of movable underwater hotels at 33 destinations worldwide.
The eco-luxury underwater hotels, designed under a U.S. Patent-approved concept, will feature 26 guest suites located about 30 feet below the surface, offering panoramic views of marine ecosystems. The project also integrates coral reef restoration using Biorock technology, promoting biodiversity and long-term sustainability.
Tony Webb, founder of Planet Ocean Underwater Hotels, said, "Our vision is to create opportunities for collaboration between nations while protecting fragile marine environments. By inviting participation from the Emirates, we see alignment with regional strategies such as Dubai’s D33 Agenda and Abu Dhabi’s Economic Vision 2030."
As part of the initiative, local organizations in the UAE are encouraged to promote participation in the GAC program. The program offers employment opportunities in hotel and resort operations and provides a platform for regional media to raise awareness about sustainable tourism and marine conservation.
Planet Ocean Underwater Hotels emphasizes community involvement, workforce development, and environmental benefits. A core aspect of the initiative is supporting coral reef restoration to enhance local ecosystems while contributing to global sustainability goals.
About Planet Ocean Underwater Hotels LLC
Planet Ocean Underwater Hotels, LLC is an international eco-tourism venture developing movable underwater hotels that combine luxury travel with marine conservation. Based on U.S. Patent Design D736,947, the project integrates advanced engineering, sustainable practices, and global community collaboration.
For more information, visit Planet Ocean Underwater Hotels or contact Tony Webb via email at info@PlanetOceanUnderwaterHotel.com.
Sterling Holiday Resorts has launched Sterling Ameris Kasauli, a boutique retreat nestled amidst pine-clad slopes and panoramic Shivalik views. Located along the scenic Dharampur–Kasauli Road, the resort invites travellers to slow down and rediscover mindful mountain living.
Once a colonial hamlet, Kasauli has grown into one of North India’s most loved escapes, where misty mornings, heritage trails, and a gentle pace of life blend seamlessly. Just a short drive from Chandigarh and Delhi NCR, Sterling Ameris Kasauli offers peace, wellness, and understated sophistication for travellers seeking a serene getaway.
The resort features Shivalik-facing rooms with private sit-outs, combining contemporary mountain chic with natural elegance. Warm palettes, handcrafted accents, and design simplicity mirror the quiet grace of its surroundings.
Dining at Valley View offers more than a meal, it’s a mindful experience. The pure-vegetarian menu features local classics like Siddu, Sepu Vadi, and Cholai Kheer, reinterpreted with modern sensibilities and served against panoramic mountain views. As evening falls, the terrace transforms into an open-air lounge, ideal for yoga, relaxation, or leisurely conversations.
As part of Sterling’s Discoveries & Experiences program, guests can explore Gilbert Trail, Manki Point, Christ Church, Sunset Point, or join guided pine walks to fully experience Kasauli’s charm.
Vikram Lalvani, Managing Director & CEO of Sterling Holiday Resorts, said, "Sterling Ameris Kasauli reflects our intent to grow with purpose, expanding into destinations that embody serenity, design, and discovery. Our ‘What a Trip’ curated circuits link destinations like Kasauli, Chail, Shimla, and Kufri into immersive travel experiences, shaping a soulful travel ecosystem across India."
Madhav Gupta, Director of Satvik Bliss Pvt. Ltd., added, "Our vision for Ameris Kasauli was to create a retreat that honours the land’s natural grace while offering guests refined simplicity. Partnering with Sterling was a natural choice, and together we hope to present Kasauli as a destination that stays with you long after you leave."
About Sterling Holiday Resorts
Sterling Holiday Resorts is a leading hospitality brand in India with a footprint across hills, beaches, jungles, heritage, and spiritual destinations. With five resorts in Himachal Pradesh, including Chail, Kasauli, Kufri, Shimla, and Manali, Sterling offers immersive experiences for today’s travellers. A wholly managed subsidiary of Thomas Cook (India) Limited, Sterling continues to blend local character with national scale, crafting memorable stays across India’s favourite holiday destinations.
Published on October 8, 2025
ITC Hotels is expanding its luxury portfolio with a new 140-room property in Patna, in collaboration with Kumar Infra Hotel Private Limited (KIHPL). The hotel, set on a 1.5-acre site, is expected to raise the bar for luxury accommodation and dining in Bihar and the surrounding region.
The project was awarded to KIHPL through a competitive government bid under Bihar’s tourism development initiatives, with ITC Hotels finalised as the operator. The property will offer world-class amenities, meeting facilities, and curated experiences that reflect the cultural and heritage ethos of the region.
Speaking on the announcement, Anil Chadha, Managing Director of ITC Hotels, said, "It shall be a privilege to showcase our iconic culinary and service excellence in Bihar through this ITC Luxury Hotel. Our luxury properties epitomize the culture and ethos of each destination offering indigenous experiences while celebrating the rich heritage of the region through distinctive architecture, arts, crafts & rituals."
Manish Kumar, Director of KIHPL, added, "We are excited and honoured to have entered into management agreements with ITC Hotels for a new luxury hotel in Patna. It is a matter of pride for us to develop this project with the vision of Bihar Government to strengthen the commercial and cultural identity of Patna. We look forward to our association with ITC Hotels to develop an iconic luxury project to elevate the tourism potential and hospitality landscape of Bihar."
The upcoming ITC Hotel in Patna is expected to attract both business and leisure travellers, contributing to the growth of the state’s hospitality sector while offering guests a luxury experience that highlights the city’s culture and charm.
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