Radisson partners Vihang for two hotel projects in MMR with ₹200 cr outlay

Two hotel projects in Thane and Mira Bhayandar to be developed with Rs 180-200 crore investment, targeting completion within three to four years

Mumbai-based Vihang Group has signed a hotel management agreement (HMA) with Radisson Hotel Group for two hotel projects in the Mumbai Metropolitan Region (MMR) with an investment of ₹180–200 crore.

 

The two properties will be developed in Thane and Mira Bhayandar. Radisson Hotel Mumbai Thane will feature 114 rooms, while Radisson Hotel Mumbai Mira Bhayandar will offer 103 rooms.

 

Each hotel entails an estimated capital expenditure of around ₹90–100 crore, which will be funded through a mix of debt and equity. The land parcels for both developments are owned by the Vihang Group.

 

Purvesh Pratap Sarnaik, director, Vihang Ahead, said that his company is targeting a development and delivery timeline of approximately three to four years for both projects.

   

The Radisson Hotel Mumbai Mira Bhayandar is planned across approximately 2 acres as part of a larger mixed-use township featuring an integrated business park with retail, office spaces and hospitality. Meanwhile, the Thane project spans about 0.75 acres, planned as a high-street development with premium retail and hospitality components.

 

“Tier 1 cities are strategic to our growth through high-yield assets and identification of high-potential micromarkets within metros, where improving connectivity and commercial momentum are driving new demand centres. Both properties are part of mixed-use developments, which allow us to integrate hospitality within larger commercial and retail ecosystems, enhancing asset value and ensuring sustained demand,” said Davashish Srivastava, senior director, development, South Asia, Radisson Hotel Group.

 

Nikhil Sharma, managing director and chief operating officer, South Asia, Radisson Hotel Group, noted that the group’s key focus is identifying and expanding into emerging business corridors that are witnessing increasing commercial activity and infrastructure development.

 

Additionally, Vihang Group has delivered over 20 projects, developed more than 20 lakh square feet, and currently has 30 lakh square feet under development. Vihang Ahead is the residential and commercial development arm of the Vihang Group, set up to build in Mira Bhayandar. Radisson Hotel Group, on the other hand, is one of India’s largest international hotel operators with over 200 hotels in operation and development.