Vineet Kapur, Chief Financial officer of The Oberoi Group, announced during the company’s earnings call on Friday that it plans to add 25 hotels to its portfolio before 2030. The expansion will increase the number of rooms by over 2,000.
The next phase of the group’s growth will be based on an asset-light approach. Eight of the 25 new properties will belong to the parent company EIH Limited. Meanwhile, the remaining 17 are managed by the group through management contracts.
This represents a radical departure from the group’s previous approach. Only seven of Oberoi’s 29 hotels are managed by the company. The 21 other hotels are either EIH Limited owned or involve some degree of ownership interest.
The group announced its first appearance in the media.
