Oberoi group may open a luxury hotel in Goa
The Oberoi group is planning to make an entry to Goa through the launch a luxury hotel in Goa.
By TNN |
BANGALORE: The Oberoi group is planning to make an entry to Goa through the launch a luxury hotel in Goa. The group has acquired land to establish a ‘villa’ property in the beach paradise according to the industry sources. Currently the Oberoi has villas in Agra, Jaipur, Udaipur and Ranthambore. However, the company officials declined to comment.
Goa is going to witness development of 12 new hotels over a period of 3-5 years, according to a survey by Federation Of Hotel and Restaurant Associations Of India and HVS International. The Oberoi could be one of these 12 new hotels.
“The hotel industry in Goa is very robust with immense potential for development of new hotels. Out of the 12 hotels, four are 5 and 4-star hotels, which are under various stages of development,” says Siddharth Thaker, HVS International.
Currently there are more than 3,600 rooms in Goa. In ’04-05 Goa registered average occupancy rate of 61% and the average room rate for the same year stood at Rs 3,764. Among the key cities in India, Goa reports the highest average length of stay by both foreign and domestic guests. Considering these factors, it is inevitable for the Oberoi group to make its entry in Goa. Other groups that have super luxury properties in Goa are The Taj, The Leela, Marriott and Radisson.
The Oberoi is going to establish additional properties in Bangalore and Mumbai. It is also going to launch its operations in Gurgaon and Khajuraho in India and Thailand, Cambodia and the UAE in the overseas market. The management declined to comment on the total investment figure for the development of these properties. Currently the group operates 11 properties across India.
EIH, the flagship company of The Oberoi registered a net profit of Rs 188.8 crore for ’05-06 as against Rs 33.1 crore in ’04-05, a growth of 469%. Total income stood at Rs 803.2 crore for ’05-06 as against Rs 625.3 crore in ’04-05, registering a growth of 28%.
Goa is going to witness development of 12 new hotels over a period of 3-5 years, according to a survey by Federation Of Hotel and Restaurant Associations Of India and HVS International. The Oberoi could be one of these 12 new hotels.
“The hotel industry in Goa is very robust with immense potential for development of new hotels. Out of the 12 hotels, four are 5 and 4-star hotels, which are under various stages of development,” says Siddharth Thaker, HVS International.
Currently there are more than 3,600 rooms in Goa. In ’04-05 Goa registered average occupancy rate of 61% and the average room rate for the same year stood at Rs 3,764. Among the key cities in India, Goa reports the highest average length of stay by both foreign and domestic guests. Considering these factors, it is inevitable for the Oberoi group to make its entry in Goa. Other groups that have super luxury properties in Goa are The Taj, The Leela, Marriott and Radisson.
The Oberoi is going to establish additional properties in Bangalore and Mumbai. It is also going to launch its operations in Gurgaon and Khajuraho in India and Thailand, Cambodia and the UAE in the overseas market. The management declined to comment on the total investment figure for the development of these properties. Currently the group operates 11 properties across India.
EIH, the flagship company of The Oberoi registered a net profit of Rs 188.8 crore for ’05-06 as against Rs 33.1 crore in ’04-05, a growth of 469%. Total income stood at Rs 803.2 crore for ’05-06 as against Rs 625.3 crore in ’04-05, registering a growth of 28%.
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