Oberoi New Delhi to close for extensive renovations
The Oberoi New Delhi will be shut down for major renovations from April 1. East India Hotels (EIH), the parent company of Oberoi Hotels, has informed the Bombay Stock Exchange that the property is expected to reopen by April 1, 2018.
“The existing building will undergo thorough renovation. Its guest rooms, public areas and ‘back of the house’ will be completely renovated,” said an EIH official. The group clarified that the existing structure wouldn’t be razed to make way for a brand new building in its place.
The Oberoi’s planned two year shutdown is one of the longest renovation period for a marquee hotel in the country. The Taj Mahal Palace in Mumbai, which was attacked on November 26, 2008, reopened on October 15, 2010, after being restored at a cost of Rs 180 crore.
The capital’s Oberoi was the first hotel to be built by the late M S Oberoi, who founded the group in 1934. The first two hotels that he had acquired, one each in Shimla and Kolkata, were existing properties.
Delhi Oberoi contributed Rs 186.9 crore to the group kitty in the financial year ended March 31, 2015, — accounting for 13.7% of the total revenue. The property’s net worth on that date was Rs 134.4 crore, representing over 5% of the group’s total net worth.