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There is to be no immediate change in the top management at the Oberoi hotel group.
In a statement issued at a press conference in Gurgaon to launch its new property, the group maintained that Chairman and Chief Executive Officer, East India Hotels Ltd, Mr P.R.S. Oberoi, had no plans to retire or step down from his current position.
Mr Vikram Oberoi would be the Chief Operating Officer looking after the operations of the group, and his cousin Mr Arjun Oberoi would be the Chief Planning Officer looking after the overall development and product plans of the company.
“We are all a part of the senior management, and there are several others who play an important role in the company. We are just a small part of the bigger picture,” said Mr Vikram Oberoi.
Mr Arjun Oberoi said, “Vikram and I work very closely on several issues, and will continue to do so. Ours is a collective effort.”
Mr Vikram and Mr Arjun Oberoi are grandsons of late Rai Bahadur Mohan Singh Oberoi. Vikram is Mr P.R.S. Oberoi's (Biki) son, and Arjun is Mr Tilak Raj Oberoi's (Tiki) son.
The newly launched Oberoi in Gurgaon is spread over nine acres, with sprawling guestrooms (620 sq. ft) and suites (from 1,240 sq. ft to 5,300 sq. ft). Adjoining the group's Trident Hotel through which also it can be accessed, the Oberoi is positioned at a more premium clientele.
The cousins disclosed that of the recently held rights issue of the Oberoi group worth Rs 1,100 crore, Rs 900 crore has been used in adjusting debt. Of the rest, some will go into adding more flight kitchens, while some will be kept aside for general purposes and expansion.
The US and Europe are on the radar of the company for expansions, but the company is waiting for the right price, said Mr Arjun Oberoi. At a time when several hotel chains have offloaded their heavy assets and gone in for management contracts, the Oberoi group is yet to take a call on the same, said Mr Vikram. But Mr Arjun said management contracts were the way forward for any big hotelier.
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