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Kolkata:
East India Hotels (EIH), the Oberoi group''s flagship, is planning to boost capacity
by 60 per cent, up from the existing 4,100 rooms to 6,800 across its hotels in
India as well as overseas. It
is estimated that the company will require an infusion of up to Rs4,500 crore
to accomplish this capacity expansion. About Rs1,000 crore of this investment
will come from EIH, with the balance coming from borrowings and partner agreement,
whose hotels The Oberoi will manage. The
remaining 1,400-odd rooms will come under the Oberoi banner through overseas projects
in Dubai, Maldives and Angkor Vat in Cambodia. Sources
say that the company has already signed a memoranda of understanding to manage
hotels in seven other destinations, including two hotels in Abu Dhabi , one in
Oman, one at Sharm-el-Sheikh in Egypt, one in Marrakesh in Morocco and one each
at Paro and Thimpu in Bhutan. Another
two 30-room properties have been planned for Bhutan. The company expects a relatively
low occupancy rate of about 45 per cent, and plans to provide the room rate advantage,
which commands $800-$900 a day in the mountain kingdom of Bhutan. New
hotels, one each in Pune and in Kolkata, are also reportedly on the anvil under
EIH''s Trident brand. The company is learnt to be seeking prospective sites in
both cities.
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