Oberoi New Delhi set to open ahead of schedule

EIH reports improved performance and revenue

B2B Travel News

August 4, 2017

/ By / Kolkata

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The 51 year old property was shut for two years for renovation

The 52-year-old property was shut for two years for renovation

Oberoi New Delhi, one of India’s premium luxury hotels run by The Oberoi Group is set to re-open ahead of schedule. The flagship company of The Oberoi Group, EIH Ltd. will conclude the INR 5 billion revamp of its New Delhi property by January 2018.

The announcement came from P R S Oberoi, the executive chairman at the company’s annual general meeting in Kolkata. He stated, “The Oberoi, New Delhi was originally scheduled to open in early April, 2018 after complete renovation. The progress on site has been very satisfactory and the new hotel is likely to open in January, 2018. The Oberoi, New Delhi is expected to retain its iconic position in the capital, which it has enjoyed since it first opened in the year 1965.”

During the first quarter of 2017-18, the total revenue of the company was INR 3.03 billion as against INR 2.79 billion in the previous year, marking an increase of around 9 pc.

P R S Oberoi commented, “In spite of moderate increase in revenue, primarily because of refund of interest on taxes and various adjustments of other duties and taxes, the company has shown much better performance in terms of profitability compared to last year. EBIDTA (Earnings Before Interest, Taxes, Depreciation and Amortization) has been INR 0.47 billion as compared to INR 0.33 billion last year, an increase of 40 pc. Profit before tax has been INR 0.18 billion as compared to a loss of INR 0.19 billion last year. Profit after tax has been INR 0.11 billion as compared to loss after tax of INR 0.12 billion last year.”

The early opening is expected to further contribute to the revenue and profitability of the company.

The renovation administered by interior designer Adam Tihany is going to include air filters as a major part of the revamp plan. The decision was taken keeping in mind the quality of air in the national capital.

The Oberoi, New Delhi will comprise of 218 guest rooms, which will include 32 suites.

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