Posted inBusiness

EIH to spend INR1.5 billion on expansion

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EIH to spend INR1.5 billion on expansion

Hotel chain EIH is planning to invest INR1.5 billion over the next two years on new projects.

The hotels operator is looking at locations like London, Paris, New York, Shanghai, Beijing and Bangkok for management control of existing and upcoming properties.

The hotel chain manages 32 properties globally of which most are self-owned.

The Kolkata-based firm plans to increase average room rentals by 8-10 percent in Sept-Oct.

Founders of EIH Hotels are keen to raise their stake in the firm from the existing 46.4%.

Ronan Fearon, General Manager, JW Marriott Bengaluru Prestige Golfshire; Uzma Irfan, Director of Corporate Communications - Prestige Group; Anuradha Venkatachalam, Captain (Hotel Manager), Moxy Bengaluru Airport Prestige Tech Cloud; Rezwan Razack, Managing Director, Prestige Group; Irfan Razack, Chairman and Managing Director, Prestige Group; Zaid Sadiq, Executive Director - Liaison & Hospitality, Noaman Razack, Director Prestige Group; Ranju Alex, Area Vice President- South Asia, Marriott International; Suresh Singaravelu, Executive Director - Retail, Hospitality & Business Expansion
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