The group has already signed a couple of MoUs for setting up hotels and resorts in hot tourism destinations like Egypt, Cambodia, Maldives and Bhutan and business destinations like Dubai and Abu Dhabi. Besides, the group is in the prowl for more overseas properties in top tourist destinations.

"We hope that all our overseas projects will be completed by 2010-11. These are now in various stages. The group is also looking for few other properties," sources said. According to sources, a foreign subsidiary of group flagship, EIH Ltd, has signed management contract for three projects in Dubai, Maldives and Cambodia.

These are The Oberoi, Dubai, The Oberoi, Siem Rip (Cambodia) and The Oberoi, Maldives. The group has signed MoUs for six luxury hotels, two each in Bhutan, Abu Dhabi and Egypt.

"The company will not invest much in these projects. Most of the hotels will be run under management contracts," added sources. Oberoi group has seven hotels and resorts globally. These are in Cairo, Sahl Hasheesh, Nile, Bali, Lombok, Madina (Saudi Arabia) and Mauritius. It is also implementing five projects in India under Oberoi and Trident Hilton brand.