Ambuja Neotia, a real-estate developer and operator in Kolkata, has bought Tree of Life Resorts and Hotels, a collection of 14 boutique hotels across India with about 200 rooms that Skift recently profiled.
The companies didn’t disclose the price or terms of the deal.
Tree of Life, based in Gurugram, has seen quick growth from five resorts pre-pandemic to 14 now.
Ambuja Neotia, based in Kolkata, began as a real estate developer but has since become a small conglomerate with multiple interests. In the hospitality space, it is part of a few hotel ventures with about 700 rooms in total in Eastern India, such as The Ffort Raichak and Swissotel Kolkata Neotia Vista (managed by Accor). It also manages about a half dozen properties for Indian Hotels Company Limited (IHCL).
Himmat Anand had led the Tree of Life for about 15 years. Ambuja Neotia has named Vinoth Ram as the new CEO.
“The Tree of Life brand architecture is perfectly poised to cater to the discernible shift in leisure travel trends, said CEO Vinoth Ram. “My primary objective is to expand the brand’s presence throughout this vast and diverse country, providing an array of unique and exceptional experiences.”
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