Express Group of hotels has recently taken over seven of Neesa Leisure Limited (NLL) run Cambay hotels. At present, the group possesses and runs three elite hotel properties in the state of Gujarat, two of them are in Vadodara and one is in Jamnagar. The latest acquisition has added more than 800 keys to the existing portfolio of 376 rooms.

The new spaces are situated at Gandhinagar and Ahmedabad in state of Gujarat and at Neemrana, Udaipur and Jaipur in Rajasthan. The group is anticipating the consent of the National Company Law Tribunal (NCLT), Ahmedabad for officially taking over the controls of the hotels.

Nirav Gandhi, owner, Express group of hotels stated- “The Express group of hotels is diversifying and it is a thrilling moment for the company. As of now, we are one of the few deluxe hotel chains in Gujarat. With the extension of the portfolio, we not only will augment our offerings in Gujarat but will also set out into Rajasthan, a new market for our firm. Cambay hotels have been here for more than four decades, so crucially we are becoming heir to a custom. We are waiting for the agreement from the NCLT and are optimistic of a positive outcome shortly.”

NLL is presently going through the process of corporate insolvency resolution under the insolvency and bankruptcy code and the NCLT will hopefully be declaring the results regarding this issue very soon.

Hiren Gandhi, director, Express group of hotels asserted- “This will be another victorious consequence of IBC law launched by the Modi Government for revitalizing the sick units swiftly. A novel financing during one of the harsh times in the hospitality business is nothing less than a miracle. It is also a manifestation to the India progress story of which we will witness many more in the coming future. The Travel and Tourism industry is one of the worst affected sectors by the Coronavirus pandemic and positive news is a signal of pleasing times ahead for Hospitality sector of the nation.”

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