EIH Ltd Forecasts Strong Q3 & Q4 Demand Despite Early Year Setbacks

Vikram Oberoi, the MD and CEO of EIH Ltd, anticipates robust demand and occupancy in the third and fourth quarters despite experiencing moderation in the April-June period. The moderation was attributed to elections and heatwaves. Foreign travel and domestic luxury hotel demand are expected to contribute positively.

EIH Ltd, a leading hospitality company, forecasts robust demand and occupancy rates in the third and fourth quarters of this fiscal year. This follows a period of moderation in April-June due to elections and heatwaves, as confirmed by MD and CEO Vikram Oberoi.

Oberoi highlighted that the impact of this year's general elections on demand was more significant compared to previous elections. He noted that the combination of high temperatures in Rajasthan and Agra, areas where the company has leisure hotels, further exacerbated the demand slump.

Despite these challenges, Oberoi remains optimistic about the rebound in foreign travel and strong domestic demand for luxury hotels. He expects these factors to enable the company to increase room rates, provided that demand remains strong. EIH Ltd plans to continue focusing on India, though it is exploring opportunities abroad and has seven projects in the pipeline.

(With inputs from agencies.)