Oberoi Group, the luxury hotel chain, will no longer manage The Oberoi Beach Resort, Al Zorah,͏͏ following͏͏ the͏͏ termination͏͏ of͏͏ its͏͏ contract͏͏ with͏͏ the͏͏ resort’s͏͏ owners,͏͏ according͏͏ to͏͏ the͏͏ ET,͏͏ citing͏͏ sources͏͏ familiar͏͏ with͏͏ the͏͏ situation.
Staff͏͏ Informed͏͏ of͏͏ UAE͏͏ Exit:
Employees͏͏ have͏͏ been͏͏ officially͏͏ informed,͏͏ signalling͏͏ the͏͏ Oberoi͏͏ Group’s͏͏ departure͏͏ from͏͏ the͏͏ UAE͏͏ market.
This͏͏ decision͏͏ comes͏͏ after͏͏ a͏͏ similar͏͏ change͏͏ two͏͏ years͏͏ ago͏͏ when͏͏ The͏͏ Oberoi͏͏ Dubai͏͏ was͏͏ rebranded͏͏ as͏͏ Anantara͏͏ Downtown͏͏ Dubai,͏͏ with͏͏ management͏͏ handed͏͏ over͏͏ to͏͏ Minor͏͏ Hotels.
Continue͏͏ Exploring:͏͏ Oberoi Group eyes͏͏ expansion͏͏ with͏͏ 50͏͏ new͏͏ hotels͏͏ by͏͏ 2030
Sources͏͏ familiar͏͏ with͏͏ the͏͏ situation͏͏ revealed͏͏ that͏͏ Managing͏͏ Director͏͏ and͏͏ CEO͏͏ Vikram͏͏ Oberoi,͏͏ along͏͏ with͏͏ Chief͏͏ Human͏͏ Resources͏͏ Officer͏͏ Shailja͏͏ Singh,͏͏ visited͏͏ Al͏͏ Zorah͏͏ to͏͏ update͏͏ the͏͏ teams͏͏ on͏͏ the͏͏ development.
Al Zorah in͏͏ Talks͏͏ with͏͏ New͏͏ Operators:
The͏͏ sources͏͏ also͏͏ mentioned͏͏ that͏͏ the͏͏ owner͏͏ investors͏͏ are͏͏ in͏͏ talks͏͏ with͏͏ other͏͏ global͏͏ hotel͏͏ chains͏͏ to͏͏ assume͏͏ management͏͏ of͏͏ the͏͏ property.
“EIH͏͏ Holdings͏͏ Ltd.,͏͏ a͏͏ subsidiary͏͏ of͏͏ EIH͏͏ Limited͏͏ and͏͏ the͏͏ operator͏͏ of͏͏ The͏͏ Oberoi͏͏ Al͏͏ Zorah,͏͏ along͏͏ with͏͏ Al͏͏ Zorah͏͏ Development͏͏ Private͏͏ Company͏͏ Ltd.,͏͏ the͏͏ hotel’s͏͏ owner,͏͏ jointly͏͏ informed͏͏ employees͏͏ yesterday͏͏ that͏͏ both͏͏ parties͏͏ have͏͏ mutually͏͏ and͏͏ amicably͏͏ agreed͏͏ to͏͏ terminate͏͏ the͏͏ management͏͏ contract͏͏ for͏͏ The͏͏ Oberoi͏͏ Al͏͏ Zorah,͏͏ effective͏͏ 28th͏͏ February͏͏ 2025,”͏͏ said͏͏ an͏͏ Oberoi͏͏ spokesperson.
Al͏͏ Zorah͏͏ Development͏͏ Private͏͏ Company͏͏ Ltd.͏͏ has͏͏ assured͏͏ employees͏͏ that͏͏ they͏͏ will͏͏ be͏͏ retained͏͏ by͏͏ the͏͏ company͏͏ going͏͏ forward,͏͏ the͏͏ source͏͏ added.
Oberoi͏͏ Reports͏͏ Profit͏͏ Drop:
EIH͏͏ Limited,͏͏ the͏͏ flagship͏͏ company͏͏ of͏͏ The͏͏ Oberoi͏͏ Group,͏͏ reported͏͏ revenue͏͏ from͏͏ operations͏͏ of͏͏ INR͏͏ 526.5͏͏ crore͏͏ for͏͏ the͏͏ quarter͏͏ ended͏͏ June,͏͏ an͏͏ increase͏͏ from͏͏ INR͏͏ 498͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ period͏͏ last͏͏ year.͏͏ However,͏͏ the͏͏ chain͏͏ recorded͏͏ a͏͏ profit͏͏ of͏͏ INR͏͏ 97͏͏ crore͏͏ for͏͏ the͏͏ quarter,͏͏ down͏͏ from͏͏ INR͏͏ 106͏͏ crore.
