IHG & K Raheja Sign For Two Hotels In Mumbai

Mumbai 30th September: INTERCONTINENTAL HOTELS GROUP SIGNED HOTEL MANAGEMENT AGREEMENTS WITH NIKHIL K RAHEJA, MD - SARYU PROPERTIES & HOTELS PRIVATE LIMITED FOR VOCO MUMBAI POWAI HOTEL & CONVENTION CENTRE

WITH VIJAYTA RAHEJA, DIRECTOR - SPHPL FOR HOLIDAY INN EXPRESS & SUITES BOTH SET TO OPEN IN POWAI, MUMBAIIHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed a management agreement with Saryu Properties &
Hotels Pvt Ltd (Part of the K Raheja Group Family) to convert two hotels in Mumbai into voco Mumbai Powai Hotel & Convention

Centre and Holiday Inn Express & Suites - Mumbai Powai.

This Signing will see the debut of INTERCONTINENTAL’S voco brand in Western India and bring a new Holiday Inn Express & Suites to

Mumbai, India / Bharat.

Currently in the development phase, Holiday Inn Express & Suites Mumbai Powai and Voco Mumbai Powai Hotel & Convention
Centre are scheduled to open in Q4 2023-2024 and Q2 2024-2025 respectively. Both hotels will be strategically located in the city’s
burgeoning start-up hub of Powai, appealing to a diverse array of business and leisure travellers. Powai is home to several educational
institutions, Hiranandani Business Park, SEZ Parks and other commercial complexes. The area is a short drive from the Chhatrapati
Shivaji Maharaj International Airport, making it an extremely accessible locality. Once opened, both hotels will see demands from
nearby businesses, corporations and IT companies.

Commenting on the signings, Sudeep Jain, Managing Director, South-West Asia, IHG Hotels & Resorts said, “We are thrilled to
announce the signing of two hotels in Mumbai, in partnership with Saryu Properties & Hotels Pvt Ltd. The city offers a wealth of

opportunities for the hospitality sector, and we are excited to contribute to its economic growth.”

Nikhil K Raheja, Managing Director, SPHPL shared “We Believe this Partnership will assist us to deliver 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, Metro proximity and the Proposed Aarey Development. This signing is a testament to IHG’s commitment to grow its footprint

in India by bringing the right brands to the right markets.”

Vijayta Raheja, Director & Spokesperson, Saryu Properties & Hotels Pvt Ltd, added, “We are pleased to partner with IHG Hotels &
Resorts to introduce IHG’s popular premium brand, voco in Mumbai & further expand the presence of the Holiday Inn Express & Suites
– which is loved by guests worldwide. We are confident that our partnership with IHG to redevelop the two hotels will help us
provide world-class hospitality to guests, at a time when demands from MICE/corporate events and the start-up industry have
increased exponentially. We expect to benefit from the strength and scale of IHG’s global systems, technology and strong loyalty

programme”.

Sudeep added “We are pleased with the confidence our owners have placed in our business and brands, and we look forward to
further strengthening our portfolio in the country to offer exceptional hospitality to our guests. We are thrilled to bring these brands to
Mumbai’s flourishing hospitality industry and these properties will not only contribute to our net system size growth rapidly but also

accelerate the momentum for the voco and Holiday Inn Express brands in the region.”

Holiday Inn Express & Suites Mumbai Powai

Located at the heart of the city centre will deliver the brand’s promise for a hassle-free and efficient stay for guests. Alongside
comfortable modern rooms, Holiday Inn Express & Suites Mumbai Powai will feature an all-day dining restaurant, a lobby lounge, and
a well-equipped business centre. Also, guests looking to adhere to their fitness routine will be able to use the hotel’s fully-equipped

gymnasium.

voco Mumbai Powai Hotel & Convention Centre

Set to open in Q2 FY24-25, the 134-key voco Mumbai Powai will feature an all-day dining restaurant as well as a lobby and lounge bar.
With meeting spaces spanning approximately 2,500 sqm of outdoor & indoor event space, the hotel will cater to business guests and

MICE opportunities in the city.

As one of IHG’s fastest-growing premium brands, voco allows guests to enjoy a unique and refreshed experience. Since launching
globally in 2018, voco has enjoyed rapid growth with multiple signings across Europe, the Middle East, Africa and Asia (EMEAA). Once
opened, voco Mumbai Powai will provide guests with a distinctive premium hospitality experience in Mumbai.
The strategic deal further expands IHG’s portfolio in Mumbai, supporting the company’s growth ambitions in India and strengthening K
Raheja Group’s position in Mumbai as a World Class Developer partnering with Reputed International Brands for their Real Estate &

Hospitality Endeavours.

NIKHIL K RAHEJA & VIJAYTA RAHEJA ARE THIRD GENERATION DEVELOPERS HAILING FROM THE REPUTED K RAHEJA FAMILY GROUP

WITH INTERESTS IN REAL ESTATE & HOSPITALITY.

Websites :www.krahejagroup.in | www.ihg.com