EIH Ltd

History
EIH Ltd, the flagship company of Oberoi group is one of the largest chains of hotels in India. The company is in the business of luxury hotels, restaurant, management contracts and travel and tours. Their services include airline catering, management of restaurants and airport bars, travel and tour services, car rentals, project management and corporate air charters. They operate hotels under the brand name Oberoi and Trident. The hotels owned and managed by the company are The Oberoi, Mumbai; The Oberoi Udaivilas, Udaipur; The Oberoi, New Delhi; The Oberoi, Bangalore; The Oberoi Grand, Kolkata; The Oberoi Vanyavilas, Ranthambhore; Trident, Nariman Point, Mumbai, and Trident, Bandra Kurla, Mumbai. Other business units owned and managed by the company include Motor Vessel Vrinda, Cochin (a luxury cruiser); Oberoi Airport Services, Mumbai, Delhi, Chennai, Kolkata, Cochin, Bangalore; Business Aircraft Charters and luxury car hire. EIH Ltd was incorporated on May 26, 1949 as a public limited company with the name East India Hotels Ltd. Initially, the company was in the business of lessee and operator of The Oberoi Palace Hotel in Srinagar, Kashmir. In the year 1956, the equity shares of the company were fist listed on BSE. In the year 1965, they built their first hotel, The Oberoi Intercontinental, now known as The Oberoi, New Delhi. In September 9, 1968, The Associated Hotels of India Ltd and Hotels (1938) Pvt Ltd were amalgamated with the company pursuant to which the company acquired five hotels including, The Oberoi Grand in Kolkata, The Maidens Hotel in Delhi and The Oberoi Cecil, Shimla. In 1973, the company commenced operations at the Oberoi Towers in Mumbai and subsequently expanded their operations from the five star deluxe segment to 'Trident' branded hotels which were targeted at business and leisure customers seeking high-quality service at more affordable prices. In the year 1986, the company forayed into the airport services business by entering into a ten year contract with the International Airport's Authority to operate all the snack bars and restaurants at the domestic and international terminals in Mumbai. In November 1996, the company changed their name from East India Hotels Ltd to EIH Ltd. In January 1997, the company opened an international luxury resort namely, The Oberoi Lombok in Indonesia. In April 1997, they opened the luxury resort hotel in the Himalayas. During the year 2001-02, Mumtaz Hotel Ltd became the subsidiary company, which owns the 5-

Star luxury hotel 'Amarvilas', an Oberoi Resort at Agra. Also, the company opened Vanyavilas, an Oberoi Resort at Ranthambhore during the year. During the year 2002-03, the company commenced their flight catering operations in Chennai after acquiring the business from EIH Associated Hotels Ltd. The hotel 'Udaivilas' in Udaipur was opened on August 15, 2002. The company renamed 'Vilas' hotels as The Oberoi Rajvilas, The Oberoi Amarvilas and The Oberoi Udaivilas with effect from October 1, 2003. Re-naming was done in order to remove the misconception from mind of customers that the Vilas hotels were separate from the Oberoi brand. In November 2003, the company launched Motor Vessel Vrinda, a luxury Crusier in the backwaters of Kerala. In March 2004, the company signed an agreement with Hilton International to co brand their Trident hotels in India. The Oberoi Towers, Mumbai was rebranded Hilton Towers and the Trident in Jaipur, Udaipur, Agra, Chennai, Cochin, Bhubaneshwar and Gurgaon were re-branded as Trident Hilton with effect from April 1, 2004. During the year 2004-05, the company opened two new restaurants namely, 'threesixty degree' and 'Travertino' at The Oberoi, New Delhi. They also opened a new restaurant namely, 'Tiffin' at The Oberoi, Mumbai. During the year 2005-06, they commenced their Flight Service Operations at Bangalore to cater to increased flights to that city. The company transferred Oberoi Cecil in Shimla and Trident Hilton in Bhubaneshwar to EIH Associated Hotels Ltd with effect from April 1, 2006. During the year 2007-08, the company completed the process of amalgamation of the company's wholly owned subsidiary, Rajgarh Palace Hotel and Resorts Ltd. Oberoi Hotels & Resorts was rated the leading luxury hotel brand in Asia in a Travel agents' poll at the World Travel Awards, 2007. Trident Hotels was rated the best first class hotel brand in India at the Galileo-Express Travel World Awards, 2007. The company terminated the strategic marketing and co-branding alliance with leading global hotel chain Hilton International Co with effect form April 1, 2008. The company signed Management Contracts through their foreign subsidiary for two The Oberoi Luxury Hotels in Abu Dhabi and one in Oman. During the year 2008-09, the company signed the Management Contracts for setting up and operating Flight Kitchens at Cochin and Calicut Airports. Balamurie Island Resort Pvt Ltd has ceased to be a joint venture company. In December 21, 2008, The Trident, Nariman Point was restored and reopened for business. In December 1, 2009, the company opened the 440 key Trident at Bandra Kurla, Mumbai,

which has three speciality restaurants, each with their own distinctive cuisine and ambience. The Oberoi, Mumbai which was closed after substantial damage following the terror attacks on November 26, 2008 reopened on April 24, 2010. In June 30, 2010, EIH International Ltd, a wholly owned subsidiary of the company, completed the acquisition of the 45.85% equity interest of Amex Investment Ltd, in their international hotels Joint Venture Company EIH Holdings Ltd, for USD 45 million. With this acquisition EIH Holdings Ltd, became wholly owned subsidiary of EIH International Ltd. Also, EIH Holdings Ltd signed a Management Contract for a hotel at Scorpio Bay, Greece and a second Oberoi hotel in Mauritius. In August 30, 2010, some shareholders of the company, namely Oberoi Hotels Pvt Ltd, Aravali Polymers LLP and Prithvi Raj Singh Oberoi sold 5,54,70,303 shares, representing approximately 14.12% of the share capital of the company to Reliance Industries Investment and Holding Pvt Ltd at a cost of Rs 1021 crore. The company has completed the Oberoi Luxury Hotel at Gurgaon, which is scheduled to open during the year 2011. The 103 key Trident Hotel at Dehradun is under construction and is expected to open in the spring of 2012. The company's new flight kitchen at Mauritius, Delhi, Cochin and Calicut are expected to be commissioned during the financial year 2010-11. The company's 229 key Oberoi Hotel at Cyber City, Hyderabad and 323 key Trident Hotel are under construction. The construction of the 252 key Oberoi hotel in Dubai located at Business Bay is progressing and is expected to begin operations in the last quarter of 2011. The company has commenced planning on the Oberoi hotels in Abu Dhabi and Oman and The Oberoi, Marrakech, Morocco Year Major Events 1949 The Company was promoted and incorporated by Rai Bahadur Mohan Singh Oberoi and Oberoi Hotels (India) Limited, in May 1949. 1956 The equity shares of the Company were first listed on the BSE. Took the Maharajas palace in Srinagar, Kashmir on lease and converted it into The Oberoi Palace Hotel. 1957 Started the flight services business. 1965 Commenced operations at The Oberoi Hotel, New Delhi. 1968 By a scheme of merger approved by the Calcutta High Court, The Associated Hotels of India Limited and Hotels (1938) Private Limited merged into the Company. By virtue of the merger, the Company acquired The Oberoi Grand, Kolkata, Maidens Hotel, Delhi, Palm Beach, Gopalpur-on-sea (operation suspended), The Oberoi Cecil, Shimla, The Mount Everest, Darjeeling (operation suspended). 1973 Commenced operations at The Oberoi Towers, Mumbai. 1974 Established a printing press in Delhi primarily for the Companys in-house needs. 1979 Bonus issue of 1,337,745 new equity shares of the Company of Rs. 10 each in the ratio

1984 1986

1992 1994 1996

1997 2004

2006

2008

of one new equity shares for every five equity shares held by the shareholders. Bonus issue of 4,953,131 new equity shares of the Company of Rs. 10 each in the ratio of two new equity shares for every five equity shares held by the shareholders. Made a foray into the airport services business by entering into a ten year contract with the International Airports Authority to operate all the snack bars and restaurants at the domestic and international terminals in Mumbai. Bonus issue of 4,720,704 new equity shares of the Company of Rs. 10 each in the ratio of one new equity shares for every five equity shares held by the shareholders. Listing of GDRs on the London Stock Exchange. Change of name of the Company from The East India Hotels Limited to EIH Limited. Bonus issue of 17,464,299 new Equity shares of the Company of Rs. 10 each in the ratio of one new equity shares for every two equity shares held by the shareholders. Commenced operations at The Oberoi Rajvilas in Jaipur, our first luxury leisure hotel in India. The Company entered into a strategic alliance for international marketing with Hilton International. All the Trident Hotels were re-branded as Trident Hilton, and the Oberoi Towers in Mumbai was re-branded as the Hilton Towers. Sub-division of the face value of equity shares from Rs. 10 to Equity Shares of Rs. 2. Bonus issue of 130,984,657 new equity shares of the Company of Rs. 2 each in the ratio of one new equity share for every two equity shares held by the Equity Shareholders. The Company acquired a 66.67% equity stake in Mercury Car Rentals Limited, a joint venture with Avis Europe for car rental business. The printing press established by the Company in 1974 was granted permission by the Indian Banks Association to print security stationery for banks. The alliance with Hilton International ended and Trident Hilton and the Hilton Towers Hotels were renamed Trident Hotels. Establishment of EIH Flight Services Limited, Mauritius as a wholly owned subsidiary of the Company. Entered into a joint venture agreement with 26% equity interest in L&T Bangalore Airport Hotel Limited for a hotel project near the Bangalore international airport. Terrorist attack at the Trident, Nariman Point and The Oberoi, Mumbai in November, 2008 resulting in interruption in business and closure of both the hotels.

The Trident Mumbai re-opened on 21 December, 2008, after the terrorist attack. 2009 Entered into a joint venture agreement with 16% equity interest in Golden Jubilee Hotels Limited for the proposed Oberoi and Trident Hotels in Hyderabad. 2010 The Oberoi, Mumbai re-opens after full renovation subsequent to the terrorist attacks in 2008. EIH International Ltd, a wholly owned subsidiary of the Company completed an acquisition of approximately 46% of the equity interest in its international hotels joint venture company EIH Holdings Ltd. Pursuant to this acquisition, EIH Holdings Ltd is now a wholly owned subsidiary of EIH International Ltd.