(From right) EIH chairman and chief executive P.R.S. Oberoi, vice-chairman S.S. Mukherji and joint managing director Vikram Oberoi in Calcutta on Monday. Picture by Kishor Roy Chowdhury

Calcutta, Aug. 27: EIH Limited, the flagship company of the Oberoi group, will increase the number of hotel rooms to 6,800 from 4,100 in the next five years at an investment of Rs 4,300 crore.

The hospitality major will put in Rs 1,000 crore and the remaining amount will come from borrowings and joint venture partners.

“The 60 per cent increase in our hotel rooms will be across our domestic and international projects. The domestic projects will add about 1,300 rooms in three of our ongoing Trident projects in the next five months,” said P.R.S. Oberoi, chairman and chief executive of EIH Ltd.

These are the 440-room Trident Bandra Kurla property, 350-room Trident Hilton near the Bangalore International airport and 250-key Trident Hilton at Cyber City, Hyderabad. The Trident properties will entail an investment of Rs 800 crore.

The international projects include those in Egypt, the UAE, Maldives, Cambodia and Bhutan. “Of the Rs 1,000 crore, we have invested around Rs 500 crore. The Bangalore project is a 26 (EIH): 74 (L&T) joint venture.,” said S.S. Mukherji, vice-chairman of EIH.

EIH is expecting a topline growth of around 35 per cent this fiscal.

Calcutta property

Oberoi said the search was on for a joint venture partner to set up a Trident hotel in the city. The group is keen to set up a second property with 300 rooms in the city. The work on the flight kitchen operations on the five-acre plot adjacent to the airport will begin soon.

Service apartment

The hospitality major is making a foray into service apartments. It has entered into an MoU for a 90-apartment property in central Mumbai.

Promoters’ holding

The group is open to increasing its promoter stake of 46.3 per cent. The creeping acquisition within the permissible limit of 5 per cent a year will continue as and when it suits the company.