Macrotech emerges top bidder for V Hotels

Lodha Group’s Macrotech Developers has emerged as the successful bidder for Mumbai-based V Hotels, owner of Tulip Star, formerly known as Centaur Hotel Juhu.

The Committee of Creditors (CoC) of bankrupt V Hotels has declared the real estate developer as the successful resolution applicant in relation to the Corporate Insolvency Resolution Process (CIRP) of the hospitality company. V Hotels has real estate assets that can be developed for residential and allied uses, Macrotech Developers said in a regulatory filing.

In May 2002, V Hotels had acquired Centaur Hotel Juhu Beach from Hotel Corporation of India under the Centre’s divestment program. The hotel has a 6.1-acre land parcel on Juhu Tara Road in Mumbai’s western suburb Vile Parle. The existing development has around 367 keys with restaurants, large banquets, and a small retail component. However, the hotel is currently non-operational.