Acquisition / Gujarat Based Luxury Hotel Group 'Express' Intends to Acquire 7 Cambay Hotels

If the acquisition successfully takes place, the Express Group will add over 800 keys to its existing portfolio of 376 rooms. These seven properties of Neesa Leisure Ltd. are located at Gandhinagar and Ahmedabad in Gujarat and at Neemrana, Udaipur, and Jaipur in Rajasthan. Sources have said that the Express Group of Hotels is awaiting the approval of the National Company Law Tribunal (NCLT), Ahmedabad for the further process.

It is noteworthy to add that Neesa Leisure Limited is a subsidy of Neesa Group. The director of Neesa Group is the controversial Gujarat Cadre Ex IAS officer Sanjay Gupta. 

Sources have said that The Express Group of Hotels is likely to expand and it’s exciting times for the company. Currently, it is one of the few premium hotel chains in Gujarat. With the intention to buy seven Cambay properties, The Express Group looks forward to not only increasing their current capacity in Gujarat but also venture into Rajasthan, a new market for them. 

It has been discussed in the hotel lobby of the state that the Express Group confident of a positive outcome from the said deal.

NLL is currently going through the Corporate Insolvency Resolution process under the Insolvency & Bankruptcy Code and the NCLT is expected to announce the outcome on the matter shortly.