Oberoi Hotels ranked amongst the best in Asia, world | business | Hindustan Times
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Oberoi Hotels ranked amongst the best in Asia, world

Addressing the Sixtieth Annual General Meeting of EIH Limited (the flagship Company of The Oberoi Group) held in Kolkata on Tuesday, PRS Oberoi, Chairman stated, "The Oberoi, Mumbai which was destroyed by the terrorists in November, 2008 re-opened on 24th April, 2010. The Oberoi, Mumbai has been well received by guests".

business Updated: Aug 25, 2010 14:14 IST

Addressing the Sixtieth Annual General Meeting of EIH Limited (the flagship Company of The Oberoi Group) held in Kolkata on Tuesday, PRS Oberoi, Chairman stated, "The Oberoi, Mumbai which was destroyed by the terrorists in November, 2008 re-opened on 24th April, 2010. The Oberoi, Mumbai has been well received by guests".

Oberoi also said, "The Oberoi, Mumbai is now amongst the best in the region".

Oberoi added, "Travel + Leisure, a leading international travel magazine, has, in a readers' poll, ranked one of the Company's hotels as the Best Hotel in the World; four Oberoi Hotels have been ranked as number 1, 2, 3 and 4 Best in Asia and four Oberoi Hotels have been ranked in the first 15 in the world. No hotel company has received such distinction in the past. The above honours bear testimony to the levels of excellence and service standards that the Company has strived to maintain".

Oberoi also said, “The demand for hotel rooms in India should grow in this financial year. Whilst room rates should begin to improve, margins are likely to be under strain due to high inflation. Appropriate measures have been taken to contain costs, wherever possible, while ensuring service excellence”.

The difficult financial landscape of 2009-2010 impacted the Company's performance during that financial year. As a result:

Total Revenue for the year ended 31st March, 2010 was Rs. 907.27 crores as compared to Rs. 1078.47 crores in the previous year;

The Profit before Tax was Rs. 88.99 crores as compared to Rs. 273.26 crores in the previous year.

The Profit after Tax was Rs. 57.23 crores as compared to Rs. 170.44 crores in the previous year.

Nonetheless, the previous year's Dividend of Rs. 1.20 per share had been maintained.

The operating results of the first quarter in this Financial Year are better than that of the first quarter in the previous Financial Year, without considering the estimated income from insurance claims accounted for in the previous Financial Year.