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EIH chairman PRS Oberoi is confident his hotels will survive the downturn

Mr. Oberoi said that the Company’s plans for consolidation and growth continued to make steady progress:

• The “Trident” hotel at Bandra Kurla, Mumbai, consisting of 440 keys, was nearing completion. The hotel was scheduled to open shortly.
• Construction of “The Oberoi”, Gurgaon was under way. The hotel was expected to open in 2010.
• The first phase of the “Trident” hotel at the new Bangalore International Airport, comprising of 153 keys, was expected to open in 2011. The second phase, consisting of 167 keys, was expected to be completed in 2013.
• Construction of the 299-key “Oberoi” hotel at Cyber City, Hyderabad was under way.
• The above was in addition to the 326-key “Trident” hotel, which was also under construction at an adjacent site.
• Renovation of four floors of the “Trident” Nariman Point, Mumbai was completed during the financial year 2008-2009.
• Construction of the 252-key “Oberoi” hotel located at Business Bay, Dubai, UAE was progressing. The hotel was expected to open in 2011. The hotel will be managed by The Oberoi Group
• Planning of two “Oberoi” hotels in Abu Dhabi and an “Oberoi” hotel in Oman is underway. These hotels will be managed by The Oberoi Group.
• The Oberoi Group had signed a management contract for an “Oberoi” hotel and residences in Marrakech, Morocco. Planning was currently under way.
• New Flight Kitchens at Mauritius, Cochin and Calicut were expected to commence operations in 2010 while a new Flight Kitchen in Delhi was expected to be operational in 2011.

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Mr. Oberoi also announced that he had signed a Management Contract last week to operate a 100-key 5-Star Trident hotel at Dehradun.

Mr. Oberoi further stated, “Terrorism is one of the biggest challenges of our times. The targeting of luxury hotels and their guests has significant implications for the hospitality industry. Security has become a major priority. This not only adds an extra financial burden but also inconveniences guests. These security measures are, however, unavoidable in the present environment”.