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The Oberoi Hotel In Delhi To Shut For 2-year Renovation
Hundreds of employees at the five-star The Oberoi hotel here will soon pack their bags for postings elsewhere; the iconic property closes for a Rs 325-crore renovation next month, to be completed by March 2018. While it shuts the 51-year-old property in Delhi for two years, the Oberoi group is inaugurating a new hotel each in UAE and Morocco this year. A third hotel coming up in Chandigarh will also accommodate some of the 400-odd staffers from Delhi. Some employees have decided to resign and join other options in the region or for other activities. The group is opening three new hotels this year: The Oberoi Sukhvilas (Chandigarh), The Oberoi Marrakech (Morocco) and The Oberoi Al Zohra (UAE) and a lot of our employees are joining these. Company's annual revenue of Rs 1,341 crore in the year ended March 2015. The company's net profit was Rs 96.6 crore in the year. The impact from closure of this hotel is expected to be more than offset once the three new hotels are operational. All guest rooms, public areas, including the restaurants, bar, business centre, spa and shopping arcade, as well as all back-of-house areas of the hotel will be completely renovated. It is not clear if the number of rooms will go up.