K Raheja Group and IHG Hotels & Resorts Hold Pre-Opening Ceremony for ₹1,800 Crore Dual-Hotel and Convention Centre Complex in Powai, Mumbai
Strategic Partnership Marks Progress on ₹1,800 Crore Hospitality Complex
K Raheja Group and IHG Hotels & Resorts held a pre-opening ceremony for the project on March 28, 2026, in the presence of Devendra Fadnavis, chief minister of Maharashtra. The milestone ceremony signals advancement on a hospitality development, including a dual-hotel complex and a large-format convention centre, valued at approximately ₹1,800 crore in Powai, Mumbai.
Project Specifications
The project features approximately 300 keys, 13 meeting rooms, four food and beverage outlets, expansive lawns, and multiple public and event spaces, and is scheduled to open this year. IHG Hotels & Resorts had signed hotel management agreements with Nikhil Raheja, managing director, Saryu Properties & Hotels, for the voco hotel and convention centre and with Vijayta Raheja, director, Saryu Properties & Hotels, for Holiday Inn Express & Suites by IHG, both in Powai, in September 2023.
Developer and Operational Oversight
Saryu Properties & Hotels is a hospitality company of the K Raheja Group that develops five-star and four-star hotels, convention centres, restaurants, and recreation facilities. The K Raheja Group, established in 1956, is a business house based in Mumbai. Its affiliate companies have interests in the real estate and hospitality sectors.
The project operates under the IHG Hotels & Resorts portfolio. The complex will operate as a dual hotel under IHG Hotels & Resorts, a hospitality company headquartered in the United Kingdom and listed on both the London Stock Exchange and the New York Stock Exchange. IHG operates over 6,000 hotels across more than 100 countries, with a portfolio of over 9 lakh rooms and 17 brands across luxury, premium, and midscale segments.
Powai as a Hospitality Hub
Located in Powai, a rapidly developing commercial and residential hub, the project is expected to benefit from strong connectivity and proximity to key business districts. Powai boasts numerous educational institutions, the Hiranandani Business Park, SEZ Parks, and other commercial complexes. Additionally, its proximity to Chhatrapati Shivaji Maharaj International Airport makes it highly accessible. Consequently, both hotels anticipate robust demand from nearby businesses, corporations, and IT firms.
Strategic Significance for Mumbai's MICE Sector
Fadnavis highlighted the importance of large-scale integrated developments, adding that they play a vital role in strengthening Mumbai's position as a global destination for tourism, business, and international MICE (Meetings, Incentives, Conferences, and Exhibitions). The inclusion of convention infrastructure also signals a targeted push towards strengthening Mumbai's MICE capabilities, an area seeing steady demand from both domestic and international markets.
Partnership Model
The collaboration between the K Raheja Group and IHG Hotels & Resorts reflects a model where real estate expertise and global hotel management capabilities are combined to deliver operational efficiency and brand-driven guest experiences. Such partnerships are becoming more common in India's hospitality pipeline, particularly in metro cities with high business travel volumes.