K Raheja Group and IHG Hotels & Resorts Hold Pre-Opening Ceremony for ₹1,800 Crore Dual-Hotel and Convention Centre Project in Powai, Mumbai
Pre-Opening Milestone for Powai Hospitality Development
K Raheja Group and IHG Hotels & Resorts held a pre-opening puja ceremony on 28 March 2026 for a dual hotel complex with convention centre in Powai, attended by Maharashtra Chief Minister Devendra Fadnavis. The hospitality development, valued at approximately ₹1,800 crore, represents a strategic collaboration between the two entities.
Project Specifications and Amenities
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. The voco hotel and convention centre is managed by Nikhil Raheja, managing director of Saryu Properties & Hotels, while the Holiday Inn Express & Suites by IHG is directed by Vijayta Raheja.
Dual-Brand Strategy
The project comprises a dual hotel complex designed to serve both business and leisure travellers, expected to feature around 300 keys, 13 meeting rooms, four food and beverage outlets and multiple indoor and outdoor event spaces. This Holiday Inn Express is part of IHG's portfolio, joining projects under development in Andheri–Kurla Road and Powai. IHG plans to open a voco hotel in Mumbai by mid-2026.
Location and Market Context
Powai is a self-contained residential and commercial hub in the Eastern Suburbs of Mumbai, built around Powai Lake and home to IIT Bombay, Hiranandani Gardens and multiple IT campuses. Infrastructure connectivity is strong through JVLR, SEEPZ connectivity, Eastern Freeway and the upcoming Metro Line 6.
The project is intended to address growing demand for MICE and large scale events infrastructure across Mumbai. CM Devendra Fadnavis emphasized the role of large-scale integrated projects in strengthening Mumbai's standing as a destination for tourism, business, and international MICE, while congratulating the K Raheja Group and IHG Hotels & Resorts on the initiative.
Developer and Partner Background
K Raheja Corp is a property developer with interests in commercial and residential projects, malls and hospitality across multiple cities in India, and is the second largest commercial developer in the country. Founded in 1956 by Chandru Raheja, K Raheja Corp was formed after a split between Raheja brothers.
IHG Hotels & Resorts is a global hospitality company headquartered in the United Kingdom and listed on both the London Stock Exchange and the New York Stock Exchange, operating 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.