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.

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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.


Novotel Hyderabad Airport Unveils The Tree by Dhananjay Singh

Novotel Hyderabad Airport Unveils The Tree by Dhananjay Singh

By Manu Vardhan Kannan

Published on October 31, 2026

Novotel Hyderabad Airport, located in GMR Aerocity Hyderabad, has unveiled The Tree, a permanent sculptural installation by contemporary artist Dhananjay Singh, in collaboration with FICCI YFLO Hyderabad. Presented under YFLO Hyderabad's Art Beyond Walls initiative, the installation brings contemporary art into the hotel's public spaces, allowing guests and visitors to experience the artwork as part of their everyday surroundings.

Created in 2025, The Tree measures 78 x 46 x 44 inches and is crafted entirely from stainless steel wire. The sculpture reflects Singh's artistic practice of using industrial materials to recreate organic forms, creating a contrast between the rigid nature of metal and the natural structure of a tree. Placed in one of the hotel's public areas, the installation is designed to interact with its surroundings. Its intricate, open structure and reflective surface create a visual experience, while its central subject explores themes of nature, duality and coexistence. The work draws attention to the relationship between the natural world and human-made structures.

The installation is a flagship initiative by FICCI YFLO Hyderabad under its Art Beyond Walls vertical, led by incoming Chairperson Khushboo Daga for 2026–2027. The initiative aims to bring art into shared and accessible spaces, giving people opportunities to engage with contemporary artistic expression beyond traditional galleries.

By placing artworks in everyday environments, Art Beyond Walls seeks to make art a more visible part of public life and encourage people to connect with creative expressions in familiar settings. With The Tree now part of its permanent public space, Novotel Hyderabad Airport adds a distinctive artistic element to its environment. The collaboration also supports wider efforts to make contemporary art more accessible while encouraging conversations around nature, materials and coexistence.


Raffles Udaipur Presents The Raffles Experience for Festive Getaways

Raffles Udaipur Presents The Raffles Experience for Festive Getaways

By Manu Vardhan Kannan

Published on October 29, 2026

Raffles Udaipur is inviting guests to celebrate the festive season with The Raffles Experience, a curated offering that combines Rajasthan's cultural heritage, culinary experiences and opportunities for relaxation. Located on a 21-acre private island on Udai Sagar Lake, the resort offers a setting for festive gatherings and family holidays, complemented by exclusive privileges and experiences inspired by the traditions of Mewar.

The offering includes daily breakfast for two, 15% savings on food, beverages and spa treatments, and an INR 3,000 resort credit per room, per stay, redeemable across spa and food and beverage experiences. Guests can also experience the region's cultural traditions through an evening Aarti ceremony followed by cultural performances showcasing Rajasthan's heritage and local artistry.

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For those looking to unwind after a day of exploration, The Writers Bar and Long Bar offer a daily Happy Hour from 5 PM to 8 PM, featuring a Buy Two, Get One Complimentary offer on beverages.

The experience also includes a range of activities for guests of different ages and interests. These include yoga sessions, guided nature walks and pottery, along with access to the resort's Kids Zone. Children below six years of age can stay complimentary when accommodated on existing bedding. Flexible check-in and check-out arrangements are also available, subject to availability.

For guests interested in discovering the region's religious and cultural landmarks, Raffles Udaipur offers a private, chauffeur-driven luxury temple tour to Nathdwara Temple and Eklingji Temple. The experience offers an opportunity to explore two revered destinations while enjoying private transportation.

Commenting on the festive offering, Gurnoor Bindra, General Manager, Raffles Udaipur, said, “The festive season is a time for togetherness, cherished traditions and creating meaningful memories with loved ones. With The Raffles Experience, we bring together the cultural richness of Rajasthan and the warmth of our hospitality, from traditional evening rituals and culinary experiences to journeys into the region’s spiritual heritage, creating a memorable festive escape for our guests.”

With its combination of dining privileges, spa experiences, cultural performances and opportunities to explore Rajasthan's spiritual heritage, The Raffles Experience brings together different aspects of a festive holiday. Guests can enjoy time with family and friends while discovering the traditions and surroundings that shape the resort's setting.

Through this curated offering, Raffles Udaipur presents a festive getaway that combines luxury hospitality with regional culture, wellness and personalised experiences.

For reservations and further information, visit The Raffles Experience.


Fairmont Jaipur Introduces Festive Palace Escape for the Holiday Season

Fairmont Jaipur Introduces Festive Palace Escape for the Holiday Season

By Manu Vardhan Kannan

Published on October 28, 2026

Fairmont Jaipur is welcoming the festive season with Festive Palace Escape, a seasonal stay package designed for guests looking to celebrate with family and friends. Set against the Aravalli Hills, the experience combines a palace stay, dining privileges and special savings, offering an opportunity to enjoy the festive period in a relaxed setting. Available for reservations until 31 December 2026, the package is designed around Fairmont Jaipur's philosophy, Make Special Happen, bringing together thoughtful hospitality, festive dining and time spent with loved ones.

The Festive Palace Escape includes daily breakfast, lunch and dinner, allowing guests to enjoy a leisurely stay with meals included throughout their visit. For families and groups travelling together, the offer also provides 30% savings on a second room, giving guests greater flexibility when planning a festive getaway. Adding to the dining experience, guests can enjoy 20% savings on food and soft beverages, offering more opportunities to explore the hotel's culinary offerings during their stay.

Located amid the scenic Aravalli Hills, Fairmont Jaipur provides a setting away from the bustle of city life. Its expansive surroundings, regal architecture and tranquil atmosphere create an inviting backdrop for guests looking to slow down, reconnect and spend quality time with family and friends during the holiday season.

The experience brings together the charm of a palace retreat and the pleasures of dining and relaxation. Whether planning a festive family holiday, a getaway with friends or a special stay to mark the season, guests can enjoy the hotel's setting alongside the privileges included in the package.

With its combination of accommodation, dining benefits and savings for guests travelling together, Festive Palace Escape offers another way to celebrate the season at Fairmont Jaipur. The package is available for reservations until 31 December 2026, inviting travellers to make the most of the festive period in Rajasthan.

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