Oberoi Realty, Ritz-Carlton tie up for Upcoming Worli Hotel
Oasis Realty, a joint venture between Oberoi Realty and Sahana Group, has announced their tie-up with the international luxury brand Ritz-Carlton for their upcoming hotel in Worli. In addition to managing the hotel, Ritz-Carlton will manage 140 apartments in the adjacent tower.
With the launch of this hotel, The Ritz-Carlton Hotel Company now has two properties in India. The first property was launched in Bangalore last year.
Paul Foskey, executive vice president, hotel development, Asia-Pacific, Marriott International said they were on the lookout for the right location and the right partners to set up a premium hotel in Mumbai. The hotel’s location is just right, situated less than a kilometer away from the Bandra-Worli sea link.
He also said that the location encapsulates the needs of any hotel guest in Mumbai, namely a prime business location, styling, and contemporary design.
Vikas Oberoi, CMD, Oberoi Realty, says they will invest Rs 750 crore on developing this hotel, which will be financed by the sale of residential units in their slum rehabilitation project in Worli.
What’s on Offer
Some of the features of the hotel include two specialty and fine dining restaurants, the spa, an ocean view bar, and banquet spaces. Concierge and butler services will be offered in the residences, which will be managed by Ritz-Carlton.
Project Status and Likely Price
The hotel and residential tower have been constructed up to the 8th and 45th floor respectively.
The likely price of the apartments in the project will be Rs 50,000 per sq ft excluding the add-ons. The size of the apartments will range from 8,500 sq ft to 20,000 sq ft.
Source: The Economic Times
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