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Autograph Collection Hotels makes its debut in Nepal with luxury property

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Ranju Alex, Regional Vice President, Marriott International – South Asia

Autograph Collection Hotels, part of Marriott Bonvoy’s global portfolio of over 30 distinguished brands, has officially entered the South Asian market with the opening of The Soaltee Kathmandu, Autograph Collection in Nepal. This marks Marriott Bonvoy’s 19th brand presence in the South Asia region, which includes India, Nepal, Bhutan, Bangladesh, and Sri Lanka.

Situated in the heart of Kathmandu, the hotel offers 285 rooms and suites, each telling a distinct story—a signature trait of the Autograph Collection. The property captures the essence of Kathmandu’s rich heritage with a refined and elegant touch, offering guests sweeping views of the Himalayas, the revered Swoyambhunath Stupa, and the property’s tranquil gardens.

Autograph Collection Hotels build their reputation on distinctive character, with each property crafted around a strong narrative and unique identity. The brand has handpicked over 300 hotels worldwide and celebrates bold design, exceptional craftsmanship, and unforgettable guest experiences. At The Soaltee Kathmandu, visitors can explore “The Storyteller”—a thoughtfully curated installation that weaves personal stories, historic elements, and guest memories into the hotel’s shared spaces, keeping its legacy alive one guest at a time.

“The debut of Autograph Collection Hotels in South Asia with The Soaltee Kathmandu, Autograph Collection is a proud milestone for Marriott International, marking the arrival of our 19th brand in this vibrant region,” commented Ranju Alex, Regional Vice President, Marriott International – South Asia. “South Asia continues to be a dynamic growth engine for Marriott International, and the debut of Autograph Collection Hotels in Kathmandu reflects our commitment to expanding into culturally rich leisure destinations. With its deep-rooted legacy, and unique character, The Soaltee Kathmandu Autograph Collection perfectly aligns with our vision of delivering immersive, one-of-a-kind stays across the region.”

Located in the heart of Kathmandu, The Soaltee Kathmandu, Autograph Collection stands as a landmark in Nepal’s hospitality landscape, with roots tracing back to 1966. Spanning 12 acres in the Tahachal area, the hotel artfully blends contemporary architecture with traditional Nepalese design elements, showcasing the country’s vibrant cultural heritage. Over the years, it has been a preferred destination for dignitaries, celebrities, and luxury travelers seeking an authentic Nepali experience.

The interiors beautifully reflect the essence of Nepalese craftsmanship, featuring wooden jaalis, exposed brickwork, and intricate Thangka paintings. Moreover, each room and suite is thoughtfully curated, combining traditional motifs with modern amenities, high-end furnishings, and the latest technology. As a result, the property stands as a true symbol of elegance and innovation in Nepal’s evolving hospitality scene.

Guests can savor authentic Nepali flavors at Garden Terrace, the hotel’s all-day dining restaurant known for its signature Nepali thali. Meanwhile, Kakori presents Awadhi-Indian delicacies, featuring chef-recommended dishes like Murgh Chapli Kabab, Rogan Nalli, and the famed Dal Kakori. Additionally, for those craving Asian cuisine, Bao Xuan serves traditional Chinese fare in an elegant ambiance. Patio offers an open-air dining experience enhanced by live music and picturesque garden views, while Rodi Bar and the Sports Lounge provide vibrant, relaxed settings for enjoying drinks and socializing.

The hotel’s wellness facilities include a serene spa that offers a range of therapeutic treatments like Hot Stone Therapy, Shirodhara, and Traditional Newari Massage. Guests can also enjoy the outdoor swimming pool, a clay tennis court, and a 24-hour fitness center equipped with modern equipment.

Ideal for grand occasions, the hotel offers 25,000 sq. ft. of flexible indoor and outdoor event space. As a result, it has become a sought-after venue for weddings, conferences, and celebrations—especially with the stunning Himalayan skyline serving as a breathtaking backdrop.

In line with its commitment to sustainability, the hotel adopts several eco-friendly practices, such as energy-efficient systems, an in-house water bottling plant to reduce plastic usage, a kitchen herb garden, water conservation efforts, and the use of locally sourced materials, further establishing its role as a responsible and forward-thinking luxury destination.

“We are incredibly proud to announce The Soaltee Kathmandu, Autograph Collection as the first Autograph Collection Hotel in South Asia,” said Avinash Deshmukh, General Manager, The Soaltee Kathmandu.

“With a legacy spanning over 58 years, this iconic hotel seamlessly blends Nepal’s rich cultural heritage with contemporary luxury. Whether guests are exploring the vibrant city, soaking in the Himalayan beauty, or hosting unforgettable events, the experience is truly distinctive. Guided by Autograph Collection’s brand promise of authenticity and compelling storytelling; we are excited to usher in a new chapter for this landmark property and the brand in the region,” he added.

Aspora raises $93 Mn to transform cross-border digital payments

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Parth Garg, Founder & CEO, Aspora

Aspora, a Y Combinator-backed startup focused on developing cross-border digital payments solutions for immigrant communities, has secured a total of $93 million through three equity funding rounds over the past nine months, bringing its post-money valuation to $500 million.

Founded in 2022 by Stanford dropout Parth Garg, Aspora—formerly known as Vance—is focused on addressing the fragmented financial needs of global diaspora communities, beginning with the Indian diaspora. The platform offers a unified suite of services for immigrants, including cross-border remittances, banking, investments, credit, and insurance.

The startup has raised $93 million across three funding rounds in the past nine months: a $5 million seed extension led by Hummingbird Ventures in September 2024, a $35 million Series A in December 2024 led by Sequoia Capital with participation from Greylock, and a $53 million Series B last month co-led by Sequoia and Greylock, with additional investment from Quantum Light.

Notably, this funding round represents one of Sequoia Capital’s most significant recent investments in a global fintech venture with strong ties to India, further highlighting growing investor confidence in the future of cross-border financial infrastructure tailored for diaspora populations.

Aspora has yet to officially announce any of its funding rounds. However, several prominent angel investors participated across these raises, including Balaji Srinivasan (former CTO of Coinbase), Sundeep Jain (former CPO of Uber), and Prasanna Sankar (co-founder of Rippling).

“From the moment we met Parth in a cramped Dubai hacker house, we knew he and Aspora were special,” said Luciana Lixandru, partner at Sequoia and newly appointed board member. “This isn’t just about digital banking — it’s about the new opportunities Aspora can create for immigrants all over the world.”

The cross-border digital payments startup has experienced rapid growth in transaction volumes over the past six months, scaling from $400 million in processed remittances to more than $2 billion. According to the company, its 250,000 users have collectively saved $15 million in fees by using its platform.

Headquartered in London, with offices in Dubai and Bengaluru, Aspora currently operates in the UK, UAE, and EU markets. The company plans to launch in the US this July, followed by expansions into Canada, Australia, and Singapore by year-end.

Aspora is also gearing up to launch a new suite of products designed to help users bank seamlessly across borders, invest in global assets, and access credit and insurance services internationally.

Sarovar Hotels expands in Rajasthan with New Golden Tulip in Udaipur

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Ajay K. Bakaya, chairman of Sarovar Hotels and director of Louvre Hotels India

Sarovar Hotels has unveiled the launch of Golden Tulip in the heart of Udaipur, Rajasthan. Nestled amidst the rich cultural heritage and picturesque charm of the City of Lakes, the new hotel promises a refined mix of comfort, luxury, and leisure for both domestic and international guests.

Conveniently located near Sukhadia Circle and within close proximity to renowned attractions like Fateh Sagar Lake, Saheliyon Ki Bari, and the City Palace, Golden Tulip ensures excellent connectivity. The property boasts 87 stylishly designed rooms and suites, featuring modern décor and amenities such as interconnecting rooms, premium interiors, private balconies, pool access, and scenic views of the Aravalli hills.

Commenting on the launch, Ajay K. Bakaya, Chairman of Sarovar Hotels & Director of Louvre Hotels India, said, “Udaipur is a city steeped in heritage and romance, and we are excited to further our presence here with the opening of Golden Tulip. This hotel is a reflection of Sarovar’s commitment to delivering authentic hospitality experiences that combine local character with international service standards. We believe this property will become a preferred choice for both leisure and business travelers exploring the beauty and vibrancy of Udaipur.”

The property features a variety of dining experiences, including Udaipur Diaries, an all-day multi-cuisine restaurant; the Library Lounge, a cozy 24-hour coffee shop adorned with curated art and literature; and the Poolside Grill, which offers an open-air barbeque experience with classic Indian dishes and refreshing beverages.

Perfect for destination weddings, social events, and corporate functions, the hotel also boasts a 6,000 sq ft grand ballroom, 10,000 sq ft of landscaped gardens, and a 2,100 sq ft Silver Room, providing versatile event spaces to suit various occasions.

Speaking on the occasion, Manmohan Singh, Managing Partner, Radiant Globus Hotels & Entertainment Pvt. Ltd., said, “We are delighted to partner with Sarovar Hotels to introduce Golden Tulip in Udaipur. This property is a labor of passion, designed to offer comfort, style, and memorable experiences to our guests. Udaipur’s timeless appeal, coupled with Sarovar’s operational expertise, sets the stage for a truly exceptional hospitality destination.”

With the launch of this new property, the Golden Tulip portfolio in India now includes 15 operational hotels across 17 destinations, underscoring the brand’s rising popularity in major leisure and business hubs. This addition further solidifies Sarovar Hotels’ footprint in Rajasthan, where it now manages multiple properties in key cities such as Jaipur, Jodhpur, Ajmer, and Udaipur.

As part of the global hospitality giant Louvre Hotels Group, this expansion aligns with the Group’s broader strategy to strengthen its presence in high-growth markets across India.

Godrej plans ₹1,500-Cr residential project after land deal in Bengaluru

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Gaurav Pandey, Managing Director and CEO of Godrej Properties

Real estate developer Godrej Properties Ltd has acquired a 14-acre land parcel in Hoskote, East Bengaluru, to launch a premium residential project expected to generate revenue of around ₹1,500 crore. In a regulatory filing on Monday, the company announced plans to develop the project on this strategically located plot.

“The proposed development is expected to offer approximately 1.5 million square feet of saleable area with an estimated revenue potential of about Rs 1,500 crore,” it added.

Godrej Properties stated that this acquisition reinforces its ongoing growth strategy in East Bengaluru. However, the company did not disclose the cost of the land acquisition.

Gaurav Pandey, MD and CEO, Godrej Properties, said, “Hoskote is an important micro market for us in East Bengaluru. It continues to demonstrate strong demand for high-quality housing and aligns with our vision of developing best-in-class residential communities.”

Earlier this month, Godrej Properties also acquired a 14-acre land parcel in Pune for approximately ₹800 crore to develop a residential project. The company anticipates generating around ₹4,200 crore in revenue from this project, which offers a developable potential of 3.7 million square feet.

Godrej Properties remains one of India’s leading real estate developers, actively expanding its footprint across major cities.

InCred Money to acquire Stocko, enters retail broking market

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Bhupinder Singh, founder and CEO of InCred

InCred Money, the digital-first wealthtech arm of the InCred Group, plans to acquire discount brokerage platform Stocko, marking its entry into the retail broking sector. Although the companies haven’t disclosed the transaction amount, industry sources, however, estimate it to be an all-cash deal worth around ₹300 crore.

The deal is pending regulatory approval. Upon receiving regulatory clearance, InCred Money will rebrand Stocko—currently operated by South Asian Stocks Limited—as InCred Stocko and integrate it into its platform, the Mumbai-headquartered firm announced.

“India’s investing ecosystem is evolving rapidly,” said Bhupinder Singh, founder and CEO of InCred. “Stocko gives us a proven platform with serious volume, and we’ll bring our tech, capital, and customer-first mindset to unlock its full potential.”

New Delhi-based Stocko, originally launched in 2013 as SAS Online, provides trading services across equities, derivatives, commodities, and currencies. The platform follows a flat-fee model, charging ₹12.99 per order. Additionally, it offers a subscription option for active traders, which reduces the cost to as low as ₹2.99 per order. Furthermore, it reports a daily notional turnover of approximately ₹1 lakh crore.

As a result of this acquisition, InCred Money aims to broaden its offerings to include equity and derivatives trading for retail investors.

Established in 2016, the InCred Group has three main business segments: InCred Finance (focused on NBFC lending), InCred Capital (serving institutional and HNI wealth clients), and InCred Money, which caters to retail investors with products such as fixed deposits and alternative investment options.

Post-acquisition, Stocko will continue to be led by CEO Shrey Jain and his team.

“With InCred’s backing, we’ll scale faster, innovate harder, and roll out smarter products—from enhanced margin funding to sharper tech,” said Jain.

In line with broader industry trends, InCred Money’s foray into retail broking highlights a growing shift among traditional financial institutions and fintechs toward building comprehensive, full-stack financial platforms—gradually blurring the boundaries between lending, wealth management, and investing.

This strategic move, in turn, mirrors the evolution of platforms like Groww, which initially focused on mutual fund investments but later expanded into equities, derivatives, and asset management. Similarly, Paytm Money transitioned from a payments platform to one offering broking and advisory services.

In December 2023, InCred Finance secured $60 million in its Series D funding round, pushing its valuation to approximately $1.04 billion and earning it a spot in the unicorn club.

In April, reports indicated that InCred Financial Services began exploring a potential IPO to raise approximately $470 million. The company initiated discussions with advisers, including IIFL Securities, Kotak Mahindra Bank, and Nomura Holdings, as part of its IPO planning process.

With the acquisition of Stocko, InCred Money takes a decisive step toward becoming a full-service financial platform. By entering the retail broking space, it not only expands its product suite but also positions itself to compete with established fintech players catering to the growing appetite for digital investment solutions among India’s retail investors.

Peerless launches ₹500-Cr mixed-use real estate project in Kolkata

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Peerless General Finance and Investment Company has announced the launch of a ₹500-crore mixed-use real estate development in Kolkata.

Named Trayam, the residential, retail, and office project is coming up on a 2.67-acre plot in the city’s New Town area.

According to PGFI, Trayam is envisioned as a premium urban development featuring 71 luxury units of 3 and 4 BHK apartments, located on prime real estate.

“The project has been conceived to provide Kolkata’s discerning homebuyers with a balanced life—where connectivity, sustainability, and comfort converge,” it said.

“Trayam is not just another real estate development. With it, we hope to effect a shift in modern urban living that will look inward rather than out. It reflects our evolving commitment to build environments that are deeply rooted in local culture yet meet the aspirations of the contemporary Indian family,” said Jayanta Roy, Managing Director, PGFI.

“This project represents our next chapter in real estate. Project cost is around ₹500 crore,” Roy said.

“Construction for the project was started in the month of March this year. The project is expected to be completed before Durga Puja, 2029,” he added.

PGFI serves as the holding company of the Peerless Group, which also operates in sectors such as healthcare, hospitality, and financial services.

Meanwhile, Bengal Peerless — a joint venture between PGFI and the West Bengal Housing Board — has developed over 30 lakh square feet of residential projects across West Bengal over the past 30 years.

With the launch of Trayam, Peerless General Finance and Investment Company is making a significant stride in Kolkata’s real estate sector. By introducing a ₹500-crore mixed-use development that combines luxury residences, retail, and office spaces, the company aims to meet the growing demand for integrated urban living. This project not only reinforces Peerless Group’s commitment to premium developments but also strengthens its position in the evolving landscape of mixed-use real estate in eastern India.

Zuper Hotels partners with SLH to boost experiential hospitality offering

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Akaal Manchanda, Director, Zuper Hotels & Resorts

Zuper Hotels & Resorts has entered into a strategic partnership with Suved Lohia Hospitality (SLH) to expand its footprint in the rapidly growing experiential travel segment.

Renowned for its themed hospitality experiences, Zuper plans to enhance its distinctive offerings by leveraging SLH’s strengths in branding, food and beverage, and nightlife.

“We’ve always believed in creating experiences that are ahead of the curve, be it through architecture, theming, or guest engagement. Now, with Suved Lohia Hospitality’s expertise in brand communication, we aim to let the world know what we’ve built and what’s coming next. This partnership is a win-win, not only for both brands but also for our guests and the larger hospitality ecosystem,” said Akaal Manchanda, Director, Zuper Hotels & Resorts.

Zuper has earned acclaim for its creative hospitality concepts, such as India’s first space-themed resort, exclusive private island experiences, and expansive event-focused properties. The group currently runs 10 resorts and plans to open four more by the end of the year.

This partnership represents a major milestone in Zuper’s journey of brand development and expansion. With a strong track record of creating acclaimed venues such as Game Palacio, One 8 Commune, Neuma, and The Nines, SLH will be instrumental in refining Zuper’s brand image and enhancing its market presence. The goal is to transform Zuper properties into sought-after destinations that offer far more than just a place to stay — delivering unforgettable, experience-driven escapes.

Both brands view this collaboration as a response to India’s evolving hospitality landscape, where design, storytelling, and immersive guest experiences are becoming as essential as comfort and service. Together, they aim to forge deeper emotional connections with travelers by creating experiential journeys that redefine traditional hospitality.

Arkade Developers buys 6.28-acre land parcel in Thane for ₹172-Cr

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Mumbai-based listed real estate company Arkade Developers has announced the acquisition of a 6.28-acre land parcel in Thane, near Mumbai, for ₹172 crore.

According to the company’s statement, the planned development will be a mixed-use project with a projected gross development value (GDV) of ₹2,000 crore and a RERA saleable area of 9.26 lakh square feet.

The company stated that it has acquired the land parcel in Kasarvadavali, off Ghodbunder Road in Thane West. The upcoming project will feature 2, 3, and 4 BHK residences, along with retail and commercial spaces.

Overlooking the Sanjay Gandhi National Park (SGNP), the project offers excellent connectivity via Ghodbunder Road and the Eastern Express Highway, as per the company’s statement.

“With a strong presence in central locations such as Kanjurmarg, Mulund, and Bhandup, our entry into the Thane market marks a significant milestone in our growth journey. Thane, with its rapidly evolving infrastructure including upcoming metro lines and other major projects, is emerging as a key growth hub for residential and commercial projects,” said Amit Jain, chairman and managing director, Arkade Developers Limited.

“Our strategy is aligned with the overall market trend towards luxury housing. With accelerating demand, we are well-positioned to maintain a sustainable growth trajectory, creating enduring value for all stakeholders. FY 25 marks a year of prominence, during which we also acquired the legendary 4-acre land parcel in Goregaon, previously leased to Filmistan Pvt. Ltd, having an estimated GDV of ₹3,000 crore,” Jain said.

The company noted that the upcoming Metro Line 4 and the Thane-Borivali twin tunnel will significantly transform the area.

According to the company, Ghodbunder Road continues to attract discerning homebuyers and investors. Moreover, Jones Lang LaSalle (JLL) India served as the exclusive transaction advisor for the deal, further reinforcing the strategic importance of this acquisition.

“With rising infrastructure tailwinds and a maturing residential catchment, Thane is fast emerging as a magnet for premium mixed-use development. JLL is proud to have exclusively advised on this deal that underscores our leadership in land advisory transactions and strategic capital placements,” said Nishant Kabra, Head – Capital Markets (West & North India), JLL.

With the strategic land acquisition in Thane, Arkade Developers aims to strengthen its presence in the Mumbai Metropolitan Region. Supported by major infrastructure developments like Metro Line 4 and the Thane-Borivali twin tunnel, the company plans to launch a mixed-use project designed to attract both homebuyers and investors, further enhancing Ghodbunder Road’s reputation as a prime real estate destination.

Atmosphere Core to open luxury hill resort in Kufri by 2026

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Atmosphere Core has partnered with Satyadeo Hospitality Private Limited to launch a luxury boutique resort, ATMOSPHERE KUFRI, in the scenic hill town of Kufri, Himachal Pradesh. Slated to open in early 2026, the resort will be strategically nestled in the Himalayan slopes, just a short drive from Shimla, offering guests both tranquility and accessibility.

Speaking on this latest venture destination, Souvagya Mohapatra, Regional Managing Director of Atmosphere Core for India, Nepal, Sri Lanka, and Bhutan, added, “The Himalayan hill stations have always been central to our vision of creating iconic luxury experiences. Kufri, with its awe-inspiring Himalayan backdrop and timeless appeal, is a natural choice for our expansion. As plans to enter this extraordinary destination unfold, and I am confident that this collaboration will redefine hospitality in the region.”

Salil Panigrahi is Managing Director of Atmosphere Core, “As part of our dynamic expansion across India, a key focus is our approach towards developing premium experiences in hill station destinations. As part of our mission to sign 25 properties by 2025, this upcoming resort is being thoughtfully designed to cater to a diverse range of travellers—from leisure seekers and corporate guests to curated events and destination weddings.”

Operating under the ATMOSPHERE sub-brand, the resort will initially offer 58 upscale accommodations, including deluxe rooms, suites, and presidential suites. In the next phase of development, Atmosphere Core will expand to 100 rooms, ultimately providing guests with uninterrupted views of snow-capped Himalayan peaks and lush green surroundings.

ATMOSPHERE KUFRI will feature a diverse culinary lineup. To begin with, guests can enjoy an all-day dining restaurant with outdoor seating. Additionally, the resort will offer a specialty eatery focused on northern Indian cuisine, a cosy bakery, an elegant lounge, and a chic bar — all thoughtfully designed to cater to refined palates.

The award-winning ELE|NA spa will anchor the resort’s wellness offerings, with therapy rooms that provide guests with rejuvenating treatments while overlooking the serene Himalayan landscape.

Pawan Kumar, Managing Director of Satyadeo Hospitality Private Limited, concluded, “Atmosphere Core’s distinguished legacy of unparalleled excellence and exquisite luxury exquisitely aligns with our vision to unveil a transcendent world-class resort amidst the awe-inspiring Himalayas. With a new generation of leadership ascending at Satyadeo Hospitality Private Limited, we are committed to manifesting ultra-lavish, bespoke hotels and resorts that embody the pinnacle of sophistication and grandeur. This illustrious partnership will not only elevate Kufri’s hospitality landscape to unprecedented heights but will also set an unrivaled benchmark for opulence, elegance, and impeccable service in this breathtaking Himalayan sanctuary.”

Set to open in early 2026, the resort reflects Atmosphere Core’s commitment to delivering world-class hospitality in India’s most scenic locales.

Clay raises new funding round, reaches $3 Bn valuation: Sources

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Clay, a sales automation startup, has reportedly closed its Series C funding round at an estimated $3 billion valuation, with CapitalG leading the investment, according to three sources familiar with the matter.

Just a month ago, the New York-based startup announced a tender offer that allowed most of its employees to sell a portion of their shares at a $1.5 billion valuation. Sequoia led the secondary transaction, committing to purchase up to $20 million worth of employee stock.

While it might appear that employees who sold shares at the lower valuation missed out, they’ll likely have another opportunity to sell stock at a higher price next year. Co-founder and CEO Kareem Amin has expressed intentions to conduct tender offers on an annual basis.

Founded in 2017, Clay found its momentum in recent years after shifting its focus to empowering sales and marketing teams with AI. The platform helps users discover key data, automate go-to-market strategies, build and update prospect lists, and craft personalized outreach emails.

Today, Clay’s tools are used by thousands of customers, including major names like OpenAI, HubSpot, and Canva, as well as over 100 small consulting firms that assist other businesses in leveraging Clay for sales growth.

Clay operates in a competitive landscape alongside platforms such as ZoomInfo, Lusha, and Apollo.io, as well as emerging players like Unify and Common Room.

In addition to Sequoia, Clay’s existing backers include Meritech Capital, Boldstart Ventures, Maple VC, First Round Capital, and Box Group.

With its latest funding round boosting its valuation to $3 billion and a strong lineup of investors, Clay continues to solidify its position in the competitive sales automation space. The company’s commitment to annual tender offers also signals a focus on long-term employee incentives as it scales further.

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