PRS Oberoi steps down as executive chairman of EIH Ltd

Oberoi Hotels' patriarch Prithvi Raj Singh Oberoi has relinquished his positions as executive chairman of EIH Ltd and chairman of EIH Associated Hotels Limited. 

His nephew, Arjun Singh Oberoi has been appointed in his place as Executive Chairman with immediate effect, the company said. He currently was Managing Director - Development of the company.

The announcement came through a BSE filing from the company’s managing director and chief executive officer, Vikram Oberoi.

In his letter, Vikram Oberoi said that PRS Oberoi will devote more time to his health.

 Popularly known as “Biki”, P.R.S. Oberoi is the son of late Rai Bahadur M.S. Oberoi, the founder of The Oberoi Group. Oberoi is 93 years old and has held this position for over two decades since 2002. The Oberoi Group, founded in 1934, presently operates 33 hotels, two Nile cruisers and a motor vessel in the backwaters of Kerala. It operates 13 hotels in the country under its Oberoi Hotels and Resorts name and another 10 in different parts of the world under the same name.

The letter added, “PRS Oberoi’s visionary leadership as Executive Chairman of the EIH Group rapidly grew our reputation in the hotel industry and made it one of the most respected hotel operators in the world. Many of us who have been associated with The Oberoi Group would have personally witnessed Mr. PRS Oberoi’s passion and dedication in ensuring our hotels are amongst the finest globally. Mr. Oberoi can be personally credited with the opening of several iconic hotels that set new standards of luxury and service globally. Oberoi Hotels & Resorts is widely recognised today among the very best in the world. It is the responsibility of each one of us to ensure his distinguished legacy continues and grows.” PRS Oberoi also established ‘The Oberoi Centre of Learning and Development’ in 1967 which the letter added is considered amongst the best in Asia.

As per its annual Directors Report, in FY21, the company reported a consolidated total income of ₹554.9 crore and a comprehensive loss of ₹383 crore in the same fiscal down from a comprehensive profit of ₹220.2 crore in FY20.