Sixty-third Annual General Meeting of EIH Limited (the flagship Company of The Oberoi Group) held in Kolkata

Addressing the Sixty-third Annual General Meeting of EIH Limited (the flagship Company of The Oberoi Group) held in Kolkata today Mr. P.R.S. Oberoi, Executive Chairman said “The hospitality sector has been facing unprecedented challenges on account of the sluggish Indian economy, influx of new supply of rooms and due to the weak economic environment in the source markets in the United States and Europe.”

Mr. Oberoi further added that “Despite the sluggish economy the company has performed better in the first quarter of current year as compared to the same period last year. The occupancy has increased from 55% to 64% and RevPar has increased by approximately 9%.

•    Profit before tax was   16.61 crores as compared to    10.81 crores last year which is an increase of 54%;

•    Earnings before Interest, Depreciation, Taxes, Amortisations and Exceptional Items (EBIDTA) has increased  from     42.30 crores to      52.19 crores which is  an increase of 23%;

•    Total  Income  has   increased  from    251.98  crores  to   277.51 crores which is   an increase of 10%;

•    Profit after tax was   10.55 crores as compared to   9.45 crores which is an increase of approximately 12%.

Mr. Oberoi further added “The Oberoi Group continues to be recognised internationally by travelers as being amongst the best hospitality group worldwide. Recently, Oberoi Hotels and Resorts have been voted the World’s Best Hotel Brand by Travel +Leisure, the leading international travel magazine in their  World’s Best Awards 2013”.

Mr. Oberoi further added “The Oberoi Udaivilas, Udaipur has been voted the Best Resort in Asia for the third consecutive year. The Oberoi Rajvilas, Jaipur and The Oberoi Amarvilas have also been ranked amongst the top ten resorts in Asia. The Oberoi Gurgaon and The Oberoi, Mumbai were ranked amongst the Top City Hotels  in Asia”.

In conclusion Mr. Oberoi said “The Oberoi, Dubai consisting of 252 keys opened on 15th June, 2013. Trident, Hyderabad consisting of 323 keys is expected to open very shortly.  Planning and construction of projects located at Goa, Bangalore, Pune, Marrakech, Navi Mumbai and Chandigarh are in progress.”