Ritz-Carlton Hotel Company has signed an agreement with a consortium led by Oberoi Realty and Sahana Group to open the first Ritz-Carlton in Mumbai, the entertainment, commercial and financial capital of India, and the second in the country following the recent opening of The Ritz-Carlton, Bangalore in Karnataka.

The 238-room Ritz-Carlton will be located in Worli, the heart of central Mumbai, a thriving new business district with easy access to the international airport.

The newly built structure will be a beacon on the coastline of the Arabian Sea with magnificent views of the Mumbai skyline and is expected to open early 2017.

Designed as a tribute to modern India, The Ritz-Carlton, Mumbai will honor its traditional past by setting new standards in luxury, technology and service. It forms part of a mixed used development in an iconic high-rise tower with luxury residential spaces. A second tower has been designated for luxury residential condominiums managed by The Ritz-Carlton.

Architects, Kohn Pederson Fox, will imagine the new towering landmark of glass and steel while renowned interior designer, Tony Chi, will take inspiration from Indian culture to create sleek interiors, including luxurious accommodations and suites that offer a contemporary sense of place.

"We have been searching for the perfect location for a premier hotel in Mumbai for several years," said Herve Humler, president and chief operating officer of The Ritz-Carlton Hotel Company. "This site offers everything hotel guests could want—a prime business location, stylish and contemporary design in this historically rich and vibrant city."

Vikas Oberoi, Chairman and Managing Director of Oberoi Realty said: "Mumbai is one of the great gateways of the world and by partnering with The Ritz-Carlton, we continue to cement the reputation of the city on the world stage and within the local market. This leading global luxury hospitality brand will resonate strongly with guests both locally and overseas."

The new hotel is located in the social heart of Mumbai, home to Bollywood, historic attractions, and upscale shopping and dining. Among the hotel's vibrant experiences will be an ocean-view bar, two specialty and fine dining restaurants, a Ritz-Carlton Spa and extensive banquet and meeting spaces for the high profile events and society weddings for which Mumbai is renowned.