EIH to manage RIL’s Navi Mum property

Kolkata: Prithvi Raj Singh Oberoi will like to see a bigger role for Reliance Industries (RIL) in the expansion of EIH, the flagship of the Oberoi Group. The first such initiative is likely to kickstart in Navi Mumbai. EIH is planning to set up a luxury hotel — its fourth in Mumbai — under the Trident brand at a property owned by RIL.      "It is a win-win situation for both of us. If they come out with properties, we can manage it," Oberoi said.      The Oberoi Group brought in RIL as a 'White Knight' investor in EIH to stave off a takeover threat from ITC. The Mukesh Ambani-led company now holds 18.53% in EIH as a strategic investor through a group investment firm.      Oberoi said that RIL has 15 acres in Navi Mumbai area. "There will be a hotel along with other projects. This hotel is likely to be managed by us. We can form a special purpose vehicle with Reliance or it can be a management contract. EIH is planning a 280-room hotel there along with serviceapartments. But it is yet to be finalized. Reliance has to take a call," he said.      Oberoi pointed out that the primary objective of the group would be to manage hotels and not own the property. "We already have too many properties. Going forward, we want to be asset light," he added.  Nita's first-ever AGM of a listed co as director  Nita Ambani on Tuesday attended the first-ever annual general meeting of a listed company as a director in Kolkata. She was inducted into the board of EIH last year. Ambani reached the city on Monday evening in Boeing 777, the private jet of RIL.