IHG Hotels & Resorts & K Raheja sign two hotels in Powai, Mumbai, ET RealEstate

January 1, 2024
1 min read
ihg hotels resorts k raheja sign two hotels in powai mumbai


IHG Hotels & Resorts is expanding its portfolio in Mumbai with the signing of new hotels with Nikhil K. Raheja and Vijayta Raheja. With this partnership, IHG will launch its new five-star brand voco in Mumbai, along with a new Holiday Inn Express & Suites property.

IHG Hotels & Resorts has signed a management agreement with Saryu Properties & Hotels Pvt. Ltd. to convert two hotels in Mumbai into voco Mumbai Powai Hotel & Convention Centre and Holiday Inn Express & Suites–Mumbai Powai.

Currently in the development phase, Holiday Inn Express & Suites Mumbai Powai and voco Mumbai Powai are scheduled to open in Q4 of financial year 2023-24 and Q2 of financial year 2024-25, respectively.

“We have been in dialogue with IHG for about a year now. We have two properties in Powai. One is a 160-key hotel, and the other is a 134-key hotel,” said Vijayta Raheja, director and spokesperson of Saryu Properties & Hotels.

“They are currently closed for renovations. We are converting one into a five-star hotel that will be under their brand voco, which is growing in popularity and is present in markets such as Singapore, Hong Kong, Dubai, New York, and Europe. The other will be a business hotel under the label of Holiday Inn Express & Suites, which will be a simple hotel for business travellers,” she added.

Sudeep Jain, MD, South-West Asia at IHG Hotels & Resorts, said Mumbai

offers a wealth of opportunities for the hospitality sector, and the company is ‘excited’ to contribute to its economic growth with the signing of these new hotels.

Nikhil K. Raheja, MD, Saryu Properties & Hotels, said the company believes that the partnership will assist it in delivering ‘world-class hospitality’ in Powai, Mumbai.

“Over the years, we have seen the growth of the locality and the change in dynamics with the new international airport, the metro proximity, and the Aarey development. This signing is testament to IHG’s commitment to growing their footprint in India by bringing the right brands to the right markets,” he added.

Vijayta Raheja said the company is confident that its partnership with IHG to redevelop the two hotels will help it provide ‘world-class’ hospitality to guests at a time when demands from MICE and corporate events and the start-up industry have increased ‘exponentially.’

She said in terms of expanding in the hospitality space, the company is looking at building another greenfield hotel project in Mumbai and will take its restaurant brand Raheja Skky to other Indian cities.

  • Published On Sep 30, 2023 at 09:03 AM IST

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