Shri Ram Multicom Embarks on Major Expansion with Acquisition of Sarga Hotels

Shri Ram Multicom Embarks on Major Expansion with Acquisition of Sarga Hotels

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.

image

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.


Eight Continents Hotels & Resorts Expands UK Presence with The Royal Hotel Cookstown

Eight Continents Hotels & Resorts Expands UK Presence with The Royal Hotel Cookstown

By Hariharan U

Published on April 30, 2026

Eight Continents Hotels & Resorts has announced the addition of The Royal Hotel Cookstown to its international portfolio, marking a significant step in strengthening its presence across the United Kingdom.

The move reflects the group’s strategy of building a curated collection of distinctive hospitality destinations that combine design, cultural authenticity, and personalised guest experiences.

Under this partnership, the property will continue to be owned by the Thom family, while Eight Continents Hotels & Resorts will take over the day-to-day management. The collaboration is designed to merge the hotel’s established legacy with the group’s experience-led approach, ensuring a balance between operational efficiency and high-quality service delivery.

The group plans to focus on refining the hotel’s brand positioning across regional and international markets, while enhancing operational performance. Key initiatives will include strengthening service delivery through people-first training, implementing structured operational frameworks, and driving commercial outcomes through disciplined revenue strategies. A more cohesive, design-led identity across guest touchpoints is also part of the transformation plan.

Commenting on the expansion, Richa Adhia, Managing Director, said, “We are delighted to expand our presence in Northern Ireland with The Royal Hotel Cookstown. This is a natural step in strengthening our footprint in our home market while continuing to build a globally connected portfolio. Our focus will be on elevating operational performance and guest experience, while preserving the property’s identity and legacy.”

For guests, the transition is expected to be seamless, with existing service standards maintained while benefiting from enhanced operational systems and upgraded experiences.

With a growing portfolio that includes brands such as Treetop, Hanric, Stamps, Ocho Homes, and Signature Collection, Eight Continents continues to expand across key destinations. Its presence spans regions including Belfast, Guernsey, and Zanzibar, alongside a strong footprint in India across Kasauli, Varkala, Udaipur, Sariska, Jodhpur, and Pushkar.

Founded in 2020 by Haninder Sachdeva, the group has positioned itself as a design-led, experience-driven hospitality brand, focusing on boutique properties that blend local heritage with global standards.

This latest addition reinforces the group’s ambition to build a globally connected hospitality network while maintaining a strong emphasis on curated, meaningful travel experiences.


The St. Regis Goa Resort Wins Best Luxury Resort at FICCI Awards 2026

The St. Regis Goa Resort Wins Best Luxury Resort at FICCI Awards 2026

By Hariharan U

Published on April 30, 2026

The St. Regis Goa Resort has been awarded Best Luxury Resort at the FICCI Travel & Tourism Excellence Awards 2026, marking another milestone in its journey as one of India’s most distinguished luxury destinations.

Spread across 49 acres of lush greenery, lagoons, and scenic waterways, with direct access to a pristine South Goa beach, the resort continues to stand out for its seamless blend of natural beauty, refined design, and personalised service.

This recognition comes at a time when the resort has been actively enhancing its guest experience. A key highlight is the reimagined Presidential Villa, designed as a private, ultra-luxury retreat that combines contemporary elegance with Goa’s cultural influences. It reflects a growing focus on offering immersive, high-end stays for global travellers.

The resort has also elevated its suite offerings, bringing in a sense of residential comfort paired with signature St. Regis sophistication. Every detail is crafted to ensure intuitive service and a refined stay experience.

Dining continues to play a central role in the resort’s identity. From authentic Italian flavours at Oliveto to globally inspired cuisine at Miri, each restaurant is positioned as a standalone destination, adding depth to the overall guest journey.

Beyond accommodation and dining, the resort curates signature experiences that define its brand. The iconic St. Regis Evening Ritual, personalised butler service, wellness offerings, and family-focused activities all contribute to a well-rounded luxury experience.

Its unique combination of expansive landscapes, beach access, and evolving experiences ensures it remains distinct from conventional resort offerings. Whether it is a quiet lagoon view, a wellness escape, or a destination celebration, the property offers a rare sense of scale and exclusivity.

Speaking on the achievement, Arun Vishnu, General Manager, said, “We are honoured to receive the award for Best Luxury Resort at the FICCI Travel & Tourism Excellence Awards 2026. This recognition reflects not only the beauty of our destination, but the dedication of our team and our commitment to elevating the guest experience. We are proud to represent Goa on a national stage and grateful to our guests for their continued trust.”

This accolade further strengthens the resort’s position in India’s luxury hospitality landscape, where thoughtful innovation meets timeless elegance


Country Inn Hotels & Resorts Adds Six Properties in a Month

Country Inn Hotels & Resorts Adds Six Properties in a Month

By Hariharan U

Published on April 29, 2026

Country Inn Hotels & Resorts, the flagship brand of Espire Hospitality Limited, has marked a significant milestone with six hotel openings within a single month, strengthening its footprint across key travel destinations in India.

The latest additions include new properties in Goa, Katra, and Patna, following earlier launches in Rishikesh and Dehradun. With this, the brand continues to build a diverse, multi-format portfolio catering to leisure, pilgrimage, and business travellers.

image

image

The 44-key Country Inn in Goa marks the brand’s entry into one of India’s most popular leisure markets. Located close to Calangute Beach, the hotel offers a relaxed coastal setting with an all-day dining restaurant, Ruhani, and a poolside bar, Liquid, alongside modern rooms and leisure facilities.image

In North India, the launch of Country Inn in Katra strengthens the brand’s presence in pilgrimage destinations. Positioned near the gateway to Vaishno Devi Temple, the 36-room hotel is designed to offer convenience and comfort for spiritual travellers, with easy access to key routes and attractions.

image

Further expanding into urban markets, Country Inn Smart Stays in Patna introduces a new format tailored for city travellers. Located in a central commercial district, the 50-room property offers access to landmarks such as Mahavir Mandir, Golghar, and Bihar Museum, along with business-friendly amenities including banquet halls and meeting spaces.

image

Commenting on the expansion, Akhil Arora said, “These openings across Goa, Katra, and Patna, following our recent launches in Uttarakhand, represent a thoughtful step in strengthening our presence across India. By tapping into diverse markets—from leisure and pilgrimage to urban centres, we are building a portfolio that aligns with evolving travel trends.”

With this rapid expansion, Country Inn Hotels & Resorts continues to focus on destination-led growth, combining accessibility, comfort, and brand-led hospitality across emerging and established markets.

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.