The Oberoi Group on Friday said it had no plans to sell its stake in EIH that owns the Oberoi hotels and resorts chain. Meanwhile, in a rare feat, four of Oberoi Group hotels are among the 15 best hotels in the world, with Vanyavilas Hotel in Ranthambhore being adjudged the best hotel globally by Travel+Leisure magazine.
“We have 46.4 per cent in EIH and there is no plan to sell any stake,” Oberoi Group Chairman P. R. S. Oberoi told journalists here. When asked about ITC increasing stake in EIH, he said: “We can't stop people buying from the stock market.” ITC had recently increased its stake in EIH to 14.98 per cent.
About EIH's expansion plans, Mr. Oberoi said they were adding their capacity and in the next five years they would double their capacity to 6,000 rooms across the world.
“Two hotel properties worth over Rs. 650 crore will come up in Hyderabad within 18 months. Besides, a brand new hotel is being built in Morocco with at a total cost of Rs. 300 crore,” he added.
Under the Trident brand, a hotel is being developed at Dehradun in partnership with Max India Chairman Analjit Singh, while another resort hotel is also coming up at Chandigarh. The group's hotel at Gurgaon is likely to be operational by the end of this year or early next year, he said.
Commenting on the international recognition to the hotels, Mr. Oberoi said Oberoi Vanyavilas (Ranthambhore), Oberoi Amarvilas (Agra), Oberoi Rajvilas (Jaipur) and Oberoi Udaivilas (Udaipur) have been ranked 1st, 5th, 13th and 15th respectively in the world and also top four in Asia.