PRS Oberoi plans to leverage his 78-year-old iconic hotel brand to enter other segments of the luxury business, including branded condominiums and premium foods. This will be the first instance of an Indian business house extending its family brand in the luxury space beyond its core business.
In an exclusive interview with ET, the 82-year-old hotelier said he will build the first Oberoi-branded residences in Bangalore and is considering launching Oberoi-branded food in the premium segment.
\\\\\\\"You see, today you cannot build a hotel by yourself in any city. Land is too expensive. You have to have multi-use. It can be hotel, service apartments, residences (condominiums). We are planning one in Hebbal in Bangalore. We have a nice piece of land, overlooking a lake. We will build Oberoi residences and sell them on our own,\\\\\\\" Oberoi said. \\\\\\\"If we do it right, two-thirds of a hotel\\\\\\\'s cost can come from there,\\\\\\\" he added.
Oberoi will follow in the footsteps of global hotel giants such as Four Seas. The octogenarian indicated he isn\\\\\\\'t hanging up his boots yet and would lead the race for the lease for the New Delhi property that houses the landmark Taj Mahal hotel operated by Tata Group.
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