As per the media a report, the Oberoi Group is mulling to widen room strength by 50%, adding 2,600 rooms by 2012. The Group which has various projects in hand will invest Rs. 350 crore, of which Rs. 100 crore has already been spent.

After the company's annual meeting, P. R. S. Oberoi, Chairman, East India Hotels (EIH), specified that a drop by 30% has been seen in average room rates over the past year. He explained that they have dealt with the situation by trying to cut waste and by curtailing capital expenditure.

When asked about the ITC's holding of 14.8% in EIH, Mr. Oberoi explained that though they are open to any proposal, they haven't received any till now. He said: "Our shareholding has increased from 38 per cent to 46.4 per cent over the last two years."

Mr. Oberoi informed that by 2010, the projects at Kochi, Kozhikode and Mauritius would become operational, and the Delhi one by 2011. He admitted that the new flight kitchen proposal in Kolkata had been scrapped, following the withdrawal of many foreign fliers from the city.

He informed that a management contract last week was signed by the group, in order to operate a 100-key 5-star Trident Hotel in Dehradun.

This will permit Oberoi's to add capacity in Bangalore, Hyderabad, Mumbai, Gurgaon, Dubai, Abu Dhabi and Oman.

Mr. Oberoi said, "Oberoi, Mumbai, the target of the November terror attack, would be re-opened with a new look by March 2010. Complete restoration work had been taken up at the hotel at an expenditure of Rs. 120 crore to repair the damages due to attack as well to refurbish and upgrade the technology at the 20-year-old hotel."