Oberoi Realty, Marriott International Ink Pact For Two New Hotels In Mumbai

Oberoi Realty Ltd. and its subsidiary Incline Realty Ltd. signed an agreement with U.S.-based luxury hotel and real estate giant Marriott International Inc. on Friday, to develop two new luxury hotels at Oberoi properties in Mumbai's Thane and Borivali regions.

The collaboration marks Marriott's flagship brand Marriott Hotels' debut and brand JW Marriott's third collaboration with Oberoi Realty in the city, according to a release issued on Friday.

The JW Marriott hotel Thane Garden City is expected to be completed by 2027, the release said. It will feature 280 guestrooms, three dining outlets, a full-service lobby lounge and a pool bar, among other facilities, it said.

“The JW Marriott Hotel Thane Garden City will be set in Oberoi Garden City, Thane, our integrated development spread across 75 acres, which will also consist of luxury residences and the Oberoi International School," said Vikas Oberoi, chairman and managing director at Oberoi Realty Ltd.

The other hotel, Mumbai Marriott Hotel Sky City, will be a part of Oberoi Realty's 1.5 million square feet mall Sky City at Borivali East, which is expected to open in October. The 280-room hotel will comprise three restaurants—a specialty restaurant, a patisserie, coupled with a full-service bar lounge and a multi-purpose lobby, and more. The Sky City hotel is expected to be developed by the end of 2025.

“This collaboration reinforces Mumbai as a strategically important market, where we now have 13 operating hotels (in the city),” said Rajeev Menon, president Asia Pacific excluding China, Marriott International.

Luxury travel and vacations are gaining more significance in India, which has opened doors for more opportunities ahead. Marriott is looking forward to further opportunities in tier-2 and tier-3 cities and also at resorted but tourist-prone destinations such as Andaman and Nicobar Islands, Menon said at a press conference on Friday.

Around 40–50% of the agreements Marriott signed last year were in resorted destinations, said Menon. “This year alone, we will open a Marriott hotel at Corbett National Park; we have a JW Marriott being built in Kashmir; and another one coming up in Ranthambore," he said.

Shares of Oberoi Realty closed up 0.82% at Rs 1,319.90 per share, as compared with a 0.56% advance in the NSE Nifty 50 on Friday.