It is one significant moment in the hotel business since the demise of Prithvi Raj Singh Oberai, popularly called Biki occurred at the age of ninety-four on the third day of Tuesday week. Through his leadership as Chairman Emeritus of EIH Ltd, Oberoi is responsible for changing the perception of luxury and service on a global scale.
His stepping into the position of the Executive Chairman of Oberoi chains of hotel in the year 2002 and served this post until May 2022, after the death of his father. During his time as the managing director, the company attained unprecedented progress with consolidated net profits rising from Rs 35.56 crore in FY02 to Rs 148.82 crore before Covid-19 in FY20.
Within its own right, EIH was experiencing unbridled growth; its gross sales increased from its 2002 figure of INR 374.72 crores to an astounding INR 1,596.25 crores for its For FY23, NSE was recorded with a consolidated net profit of Rs 314 core on gross sale of Rs 2,018.81 crore. However, during this period, EIH shares increased at a phenomenal pace of approximately seven fold to touch Rs 231.20 at a market close on 13th of November 2023, up from just a meager Rs 25.54
In other words, consolidated net profit for EIH Ltd grew by 279% year on year to Rs.93.111 crores for the quarter ending September 30, 2023. Additionally, its gross sales rose sharply by 32.29% year-on-year (YoY) to close at approximately Rs 530.57 crore. Currently, there are over 4,900 rooms spread out across hotels in twenty-four cities within India and seven other countries, under the EIH brand portfolio.
The effect of Oberoi on the hospitality landscape extended beyond the board room. Serving as Chairman of Oberoi Hotels Private Limited, the son of the founder – Rai Bahadur MS Oberoi, he managed to open up iconic hotels which established new standards of luxury in a global sense. This inspired Mr. Oberoi to set up The Oberoi Centre of Learning and Development in 1967, one of the best institutions that have produced outstanding hoteliers in Inda.
The death of PRS Oberoi has left the world of hospitality in deep mourning at this hour as it says goodbye to one of its grandest giants whose beauty, grace and perfection transformed what was plain into a masterpiece.
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