K Raheja Group and IHG Hotels & Resorts Hold Pre-Opening Ceremony for ₹1,800 Crore Dual-Hotel Convention Complex in Powai, Mumbai
K Raheja Group and IHG Hotels Mark Powai Development Milestone
K Raheja Group and IHG Hotels & Resorts held a pre-opening ceremony on 28 March 2026 in the presence of Maharashtra Chief Minister Devendra Fadnavis to mark progress on a major hospitality development in Powai. The project will include a dual-hotel complex, convention centre, and event spaces, valued at approximately ₹1,800 crore, aimed at boosting Mumbai's position as a key destination for business, tourism and MICE activities.
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 in 2026. IHG Hotels & Resorts signed hotel management agreements with Nikhil Raheja, managing director of Saryu Properties & Hotels, for the voco hotel and convention centre and with Vijayta Raheja, director of Saryu Properties & Hotels, for Holiday Inn Express & Suites by IHG, both in Powai, in September 2023.
Strategic Vision for Mumbai's MICE Sector
Chief Minister Fadnavis highlighted the importance of large-scale integrated developments, noting 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 project reflects a strategic collaboration between the K Raheja Group and IHG Hotels & Resorts, aimed at delivering an integrated hospitality ecosystem catering to both business and leisure segments.
Developer and Partnership Background
K Raheja Group, established in 1956, is a business house based in Mumbai with affiliate companies that have interests in the real estate and hospitality sectors. 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.
IHG Hotels & Resorts is one of the world's leading hospitality companies, headquartered in the United Kingdom, and operates over 6,000 hotels globally with a presence in around 100 countries.
Location and Market Position
Powai has emerged as a key business and lifestyle hub in central Mumbai, with proximity to major commercial zones and strong connectivity. The integrated hospitality model—combining accommodation, conferencing, and event facilities within a single complex—addresses rising demand for large-scale MICE infrastructure in the city, supporting both corporate gatherings and destination events.