<p>Mukesh Ambani led Reliance Industries Limited (RIL), India’s largest private sector enterprise, is gauging plans to set up hotels across India via its partnership with EIH Ltd, the proprietors of Oberoi and Trident brands of hotels.</p>
<p>RIL entered the hospitality industry last year after picking up 14.8 per cent stake in EIH Ltd. Now, as a part of this prolific partnership, both Reliance and EIH plan to set up hotels that will call for an investment of approximately Rs. 700 crore. EIH Chairman and Chief Executive P R S Oberoi, today, noted that EIH will most likely carry out its development plans in Bangalore and Goa in association with Mukesh Ambani led team. He also informed that the proposed joint hotel projects will boast of exclusive hotels which will have 250 rooms and 100 rooms in Bangalore and Goa respectively. These hotels will, however, be managed by EIH. EIH currently has land in both locations; 8.2 acres in Bangalore and 55 acres in Goa, to be precise.</p>
<p>RIL is anticipated to raise its stake after the revision in the takeover code, and EIH has welcomed this prospect readily.</p>
<p>Reliance Industries will play a chief role in development plans as against managerial operations. RIL has been eyeing partnerships in diverse sectors, including hospitality and tourism which is currently one the largest and the most lucrative sectors of Indian economy.</p>
<p>Tourism and hospitality are the largest service sectors in the country, contributing approximately 6.23 per cent to the national GDP and 8.78 per cent of the total employment in the country. India sees around 6 million international visitors every year and nearly 562 million domestic tourists to every corner of the country. As per tourism industry estimates, Bangalore and areas around tourist hot spot Goa are attracting much international investment and have larger number of development prospects in the pipelines.</p>
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