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EIH Ltd MD Vikramjit Singh Oberoi reports hotels with 90% occupancy rates

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In Short:

EIH Ltd, running Oberoi and Trident hotels, sees potential for 90% occupancy rates and higher room rates in the future. The company reported a strong profit increase in Q4 and plans to add 50 new hotels by 2030. With increasing demand and slower supply growth, EIH aims to capitalize on the luxury segment and drive up average room rates in both domestic and international markets.

EIH Ltd, the company behind popular hotel brands like Oberoi and Trident, is feeling optimistic about the future. The Managing Director and Chief Executive Officer, Vikramjit Singh Oberoi, believes that more of their hotels can achieve occupancy rates of around 90 per cent and there is a great opportunity to increase the average room rate (ARR).

Exciting Opportunities Ahead

According to Oberoi, there is room to improve ARR both in cities and luxury locations in the country. He emphasized the importance of maintaining premium rates for the exceptional services and products they offer.

Hospitality Industry Growth

The hospitality major recently reported a significant increase in its consolidated net profit, driven by higher revenue. The domestic occupancy rate grew to 81 per cent in the last quarter, with ARR also seeing a rise.

Oberoi is confident about the future, mentioning that the demand for luxury hotels is expected to increase by 8-10 per cent in the next decade. This presents a great opportunity for driving ARR up, especially with slower growth in supply.

Ambitious Plans

EIH Ltd has set ambitious targets for the future. They are aiming to add 50 new hotels by 2030, with two new hotels set to open in India this fiscal year. Additionally, two overseas hotels are also planned for this financial year.

The company currently operates around 30 hotels globally and is looking forward to expanding their presence in the hospitality industry.

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