The Company was incorporated on 13-5-1969 (Com Reg. No. 14275) in the name of Alams Advani Hotels Private Limited for carrying on hotel business. The original promoters were Mr. Sunder G. Advani and family members. Later, they sold their shareholding in the Company to Khanna Family of Delhi consisting of:
- Mahadev Prasad Khanna
- B N Khanna
- T N Khanna and
- S K Khanna.
The name of the Company was changed to Eastern International Hotels Limited. The Company purchased a plot of land at Juhu in 1970 for constructing a five star hotel. The construction was started in 1971-72. The hotel proposed was a 210 residential hotel with all the facilities as a five star hotel. The hotel was financed by secured loans from financial institutions. The Company also came out with a public issue in 1974 for part financing the hotel. The hotel was completed in 1976. The Company signed franchise agreement with Holiday Inn Inc. USA for management and consultation for running the hotel. The hotel was named as Holiday Inn, Bombay. Since Dec-1976 the Bombay Hotel is operational. The franchise agreement expired in February, 2007.
Later the Company signed a Management agreement with ACCOR for its Mumbai Hotel in April, 2008. The Hotel was closed for renovation from February 2008 till June 2009. The hotel has now been branded as NOVOTEL and re-started its commercial operations from 1-7-2009.
In 1983-84, the Company set up another residential hotel in South Goa in the name and style of Majorda Beach Resort.