Zon Hotels Mumbai Pvt Ltd, a joint venture between SanRaj Group and DGS Group, has signed a non-binding memorandum of understanding with IHG Hotels & Resorts for the development of a large-scale luxury hotel in Mumbaiโs western suburbs. The proposed greenfield project, planned as a 350-key property under a premium global brand such as InterContinental, signals a significant addition to the regionโs evolving commercial and hospitality-led real estate landscape.
The agreement reflects the growing momentum of Mumbaiโs western corridor as a high-growth urban micro-market, driven by infrastructure upgrades, expanding business districts, and rising demand for mixed-use developments anchored by global brands. The project is positioned to reinforce SanRaj Groupโs role in bringing international hospitality operators into emerging business zones across the city.
The MOU was signed on January 21 at Holiday Inn Mumbai by Sudeep Jain, Managing Director โ South West Asia, IHG Hotels & Resorts, and Rajdip Gupta, Director, Zon Hotels (Mumbai) Pvt Ltd. The company is promoted by Sandip Gupta, Rajdip Gupta, Ishwar Shukla, and Rohit Shukla. While the MOU is non-binding, it outlines the intent to move toward a definitive Hotel Management Agreement following detailed due diligence, design development, planning approvals, and regulatory clearances.
From a development standpoint, the proposed hotel is expected to be a purpose-built luxury asset designed to meet the requirements of corporate travellers, MICE demand, and high-end leisure segments. The scale and positioning of the project are expected to contribute meaningfully to the western suburbsโ hospitality infrastructure, complementing nearby office developments and strengthening the areaโs appeal as a business destination.
Commenting on the project, Sandip Gupta and Rajdip Gupta said the western region of Mumbai is rapidly emerging as a key commercial hub, supported by improved connectivity and increasing corporate activity. They noted that the development aligns with their vision of creating high-quality, globally benchmarked hospitality assets that respond to the cityโs evolving urban and real estate needs.
Ishwar Shukla and Saurabh Parsrampuria added that the proposed collaboration reflects a focus on long-term asset value creation, supported by international operating standards, strong brand equity, and professional hotel management.
The project underscores a broader trend within Indiaโs real estate sector, where domestic developers are increasingly partnering with global hotel operators to anchor large-format developments in fast-growing urban corridors. With continued investment in transport infrastructure, office stock, and commercial activity, Mumbaiโs western suburbs are emerging as a strategic zone for institutional-grade hospitality and mixed-use developments.
