New plans for hotels in Bangaluru and Goa and projects in Morocco by East India Hotels Ltd

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NEW PLANS FOR HOTELS IN BANGALURU AND GOA AND PROJECTS IN MOROCCO BY EAST INDIA HOTELS LTD

Monday, 18 Aug 2008

East India Hotels Ltd plans to strengthen their company in Bangaluru and Goa by opening 10 hotels by 2011, but is awaiting government approval, which they hope to have by October. They intend adding a new hotel as a component of their growth plan as well as another 2,300 rooms and 10 properties, while investing Rs650 crore. Shareholders were told by EIH Ltd chairman PRS Oberoi during the company's AGM on 14 August in Kolkata; AIH plans to invest Rs500 crore to construct a 225-room lavish hotel of about eight acres in Bangalore, investing the rest into a development in Goa, where a 75-room property will be at least 50 acres, consisting of villas and a hotel, with 15 villas available for sale. The company will own all these hotels, including the properties in Morocco.

Being the owners of the Oberoi brand, luxury hotel owner EIL plans to add the Trident brand, that recently ended alliances with Hilton International, now to be combined under EIH Associated Hotels. The company would manage seven hotels, while three would be managed on a management-contract basis. They have a 436-room Trident hotel property at Bandra-Kurla in Mumbai nearing completion, which they expect start operations in January 2009. New flight kitchens will be added in Kozhikode, Mauritius, Kolkata and Kochi as well as the ones in Chennai, Mumbai and Kolkota. EIH will manage kitchens in
Kochi and Kozhikode.

The company plans to sign deals with various real estate developers having a substantial land bank. This will ensure flexibility and higher company profits. For their overseas projects with property in Morocco, including The Oberoi at Muscat, Al Yas Island Resort and Al Raha in Abu Dhabi, Oberoi Dubai, and a resort at Marrakesh, with 40 villas and 100 rooms ensuring more accommodation in Morocco and other regions, management contracts through a foreign subsidiary have been signed.