You are here » Home » Companies ยป Company Overview » EIH Ltd

EIH Ltd.

BSE: 500840 Sector: Services
NSE: EIHOTEL ISIN Code: INE230A01023
BSE 00:00 | 02 Feb 170.00 -5.70
(-3.24%)
OPEN

174.40

HIGH

176.30

LOW

168.65

NSE 00:00 | 02 Feb 170.20 -5.25
(-2.99%)
OPEN

172.15

HIGH

176.55

LOW

168.70

OPEN 174.40
PREVIOUS CLOSE 175.70
VOLUME 37628
52-Week high 205.45
52-Week low 120.50
P/E 99.42
Mkt Cap.(Rs cr) 10,631
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 174.40
CLOSE 175.70
VOLUME 37628
52-Week high 205.45
52-Week low 120.50
P/E 99.42
Mkt Cap.(Rs cr) 10,631
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

EIH Ltd. (EIHOTEL) - Chairman Speech

Company chairman speech

Dear Shareholders

I am deeply honoured and humbled to be bestowed with the responsibilityof Executive Chairman of our iconic Company and to follow in the footsteps of our FounderRai Bahadur M.S. Oberoi and our Chairman Emeritus Mr. P.R.S. Oberoi.

Mr. P.RS. Oberoi has been globally recognised as one of the finesthoteliers of his generation. His legendary commitment to quality and foresight set theCompany on a path of global recognition and excellence. We are fortunate to have been ledby his wisdom attention to detail and deep understanding of guest needs and peopleaspirations. We are also fortunate to have access to his counsel and guidance that willhelp us build on our reputation as one of the world's finest luxury hospitality brands.His visionary leadership will remain an inspiration for many of us who had the privilegeof working closely with him and remain a guiding force for the Company as we chart ourjourney into the future.

At EIH we are fortunate to have a legacy that spans many generations.Resilience is ingrained in our ethos and work ethic. During a period of uncertainty andsustained headwinds we continued on our path of delivering world class service whilemeeting challenges and ensuring the well being of our guests employees and communities.This was made possible by the unrelenting efforts of our colleagues and partners toprotect health value and customer experience.

We owe our thanks to governments and the medical fraternity across theworld for their swift action on rolling out vaccination programs. This undoubtedly shapedand accelerated a recovery with renewed confidence and a return to relative normalcy.

The year in review

The global travel and tourism industry has historically been sensitiveto macro and micro economic developments as well as socio economic and politicalinfluences. The financial year was significantly impacted by the uncertainty andvolatility of the pandemic. In spite of high expectations the post pandemic recovery didnot develop as quickly as was hoped. Whilst the second and third Covid-19 waves preventeda strong return to travel geo-political tensions global trade disruptions and multiplesupply side economic events created uncertainty for the global economy.

The current year is likely to see the industry attain a value of US$8.4trillion and an expected return to its pre-pandemic levels of US$9.6 trillion in 2023.There will in parallel be a far-reaching transformation of the hospitality industryacross formats customer experience technology and locations. The industry is fastadapting and continues to be proactive and agile in its response with traditionalhospitality models also remaining resilient and strong.

In India tourism and hospitality remains one of the largest serviceindustries contributing an average 7% of GDP across the last decade. Increased businessactivity a rise in domestic tourism better road and airport infrastructure across thecountry are spurring a growth in travel. Whilst the pandemic did affect the first half ofthe year we started seeing green shoots in the third quarter culminating in stronggrowth in the final three months aided by extended holidays and positive consumersentiment.

Experience Resilience Excellence

Our performance during the year is consistent with our expectationsand a strong improvement over the previous year. An undiluted commitment to customersatisfaction and safety remain cornerstones of our growth.

We are investing in our brand upskilling our people improving ourinfrastructure and introducing new locations and formats to bring the best globalexperiences to our guests in the signature Oberoi style. Internationally validated safetyprocesses and procedures reinforce our commitment to the highest levels of hygiene andcleanliness. Our technology interventions are aimed at introducing next- generationconveniences and are designed to ensure we remain the leading standard in luxuryhospitality and innovation.

Looking to the Future

We recognise and are constantly reminded that climate change remainsone of the key challenges for the travel and hospitality industry. Our commitment todecarbonisation of activities and fostering sustainable behaviour amongst travellers andtourists will be key to ensuring the growth of our industry and its contribution to a morerobust and regenerative global future.

Your Company has prioritised sustainability as one of our strategicpillars and an increased emphasis on sharpening our Environment Social and Governance(ESG) goals. Guided by our Board EIH is executing on these ambitions by proactivelyimplementing our sustainability policy.

EIH endeavours to meet international benchmarks of excellenceresponsibility and sustainability by deploying the most energy efficient technology acrossour hotels. We are also building a bigger sense of community through our commitment tocharitable engagements at local and national levels. As we focus on the next phase ofgrowth our ESG ambition and approach will continue to mature and a growing number ofhotels will operate on renewable sources of energy for their requirements.

In conclusion

EIH has always stood for excellence across its 70 year history. I amoptimistic about the opportunities that lie ahead of us and encouraged by the goodwillthat has been built over many decades. Our experience and expertise shall continue to growour business by building a community of loyal guests across multiple destinations. Thereis renewed energy and optimism validated by a resilient performance across two successiveand challenging years. We will with the help of our colleagues and partners continue tobe at the forefront of innovation and create lasting value for our stakeholders.

My sincere thanks to members of the Board for their guidance andinvaluable advice and to our colleagues for their dedication and commitment to excellence.

Finally my thanks to you for your unwavering and continuous support. Iam confident that we shall continue to lead the way with outstanding hotels and servicesthat have been the hallmark of our exceptional Company and illustrious history.

Arjun Singh Oberoi

Executive Chairman

.