- M3M and Oravel sign MoU to launch India’s largest SUNDAY Hotel with 220 keys in Gurugram
- The hotel will be spread over an area of 1.69 lakh square feet
- This partnership is a part of the larger MoU signed between M3M India and Oravel for developing 15 lakh square feet with 1000 keys across multiple locations in NOIDA and Gurugram
Gurugram, August 29th 2024: M3M India, a leading name in luxury real estate development, and Oravel Stays, the parent company of OYO Hotels & Homes, a global hospitality technology company, have announced a landmark Memorandum of Understanding (MoU) to launch the largest SUNDAY Hotel in India. This ambitious project will feature 220 keys at M3M SkyLoft, New Golf Course Road Extension, Gurugram with approximately 1.67 lakh square feet of space, out of 15 lakh square feet.
The hotel is located near the proposed upcoming Cyber City 2 on Southern Peripheral Road (SPR) in Gurugram, making it an attractive option for business travellers and professionals working in the area as well as for those attending meetings and conferences.
This strategic location aligns with the high standards and expectations of discerning travelers seeking exceptional experiences, state-of-the-art amenities, cutting-edge design, and unparalleled services. The Hotel cum Residences offering is set to transform and redefine luxury, convenience, and quality, setting new benchmarks in the commercial real estate and hospitality sectors.
The initiative is a part of a larger partnership to develop luxurious hospitality space across 15 lakh square feet with 1000 keys across multiple destinations in Gurgaon and NOIDA.
The transaction was successfully completed with the assistance of well-known transactional advisory and consultancy firm Corevest advisory.
The Memorandum of Understanding (MoU) established between M3M India and Oravel Stays highlights a mutual dedication to the improvement of the urban environment and the delivery of exceptional services and amenities. This strategic alliance is anticipated to stimulate the local economy, generate employment opportunities, and establish new benchmarks within the commercial and hospitality industries.
The project is on the cusp of market entry, poised to attract a diverse array of stakeholders including investors, business proprietors, and tourists in search of upscale experiences in a prime locale. The development is meticulously crafted to cater to the escalating demand for superior commercial spaces and hospitality services within the vicinity.
The project’s architectural design is led by Mr. Zubin Cooper, CEO of Bentel Associates International. His renowned expertise is set to infuse the development with unparalleled sophistication and functionality, ensuring it stands out in the luxury market.
Mr. Sudeep Bhatt, President, M3M India, stated, “We are thrilled to announce the signing of this significant Memorandum of Understanding with Sunday Hotel, marking a pivotal moment for M3M India. This collaboration is a testament to our shared vision of creating unparalleled commercial spaces that redefine luxury and convenience. With this MoU, we are poised to develop 1.5 million square feet of world-class facilities that will set new benchmarks in the industry. We are confident that this partnership will bring immense value to our stakeholders and contribute to the fast growing region.”
Aditya Sharma, Business Head, Oravel Stays Private Limited added “The SUNDAY Hotel partnership with M3M India allows us to expand our footprint in the luxury segment in metro cities beginning with Gurugram which has emerged as one of the key destinations for social events, domestic tourists and long stay international guests. Our shared vision is to create a landmark property that offers the best of comfort, convenience, and sophistication”.
In the current portfolio, M3M India has 56 projects spread across retail, residential, offices, service apartments etc. All of its projects launched prior to 2019 have already been delivered and the construction is in full swing in the rest of the projects. It has an impressive land-bank of 3,000 acres across Gurugram, Noida and Panipat.
SUNDAY Hotel, a premium brand of hotels was originally launched in May 2023 through a joint venture between the Softbank Group and Oravel Stays, the parent company of OYO. The first SUNDAY hotel was launched in Jaipur followed by Vadodara and Chandigarh in India and London and Dubai in overseas markets.
About M3M India:
M3M India is one of India’s leading real estate developers, known for its innovative and customer-centric projects. With a portfolio that spans residential, commercial, retail, and hospitality spaces, M3M is committed to delivering excellence and creating benchmarks in the industry.
About Sunday Hotel:
SUNDAY Hotel, a premium brand of hotels was originally launched in May 2023 through a joint venture between the Softbank Group and Oravel Stays, the parent company of OYO. The first SUNDAY hotel was launched in Jaipur followed by Vadodara and Chandigarh. The hotels which started from non-Metro cities is now putting equal emphasis on growth in metros.
