Newstrack

Oberoi Group to invest Rs 900 cr over 4 years

EH Staff- New Delhi

The Oberoi Group said it will invest about Rs 900 crore by 2011 to develop three properties in India besides entering into management contracts abroad. The group added another feather in its cap as the Oberoi Udaivilas, its luxury hotel in Udaipur, was adjudged the best hotel in the world in the Travel + Leisure World's Best Awards 2007 readers survey.

Singita Sabi Sand, Kruger National Park in South Africa was at the second position. The Oberoi Amarvilas in Agra and The Oberoi Rajvilas in Jaipur have been ranked the tenth and eleventh best hotels in the world, respectively.

At a conference held in the capital, Oberoi Group chairman PRS Oberoi talked about the group's agenda and its future expansion plans. "We are starting a large number of new hotels in the next two to three years, both in India and abroad. Most of these, however, are management contracts," he said. According to him, the group is putting in its own investment in hotels like the ones in Rajgarh in Madhya Pradesh, in Goa as well as in Bandra-Kurla in Mumbai, while most of the overseas hotels are management contracts.