New Delhi, Aug 20 - East India Hotels (EIH), the flagship company of hospitality major Oberoi Group, is setting up two hotels in the Gulf region, one at Abu Dhabi and the other in Oman, while its property in Dubai is progressing well, the group said in a statement Thursday.

The company, which reported a 21.53 percent drop in its net profit to Rs.170.44 crore in 2008-09, said plans for consolidation and expansion were on track. These include renovation of Trident Hotel in Mumbai, one of last year's terror attacks.

The hotel is expected to reopen in the first quarter of 2010.

Among hotels that are to come into operation is the 440-room Trident Hotel at Bandra Kurla, and another at Gurgaon.

Apart from this, the Oberoi Group is also building a hotel near the Bangalore airport and two in Hyderabad under the Trident and Oberoi brands.

EIH's revenues in the last fiscal dropped 7.1 percent to Rs.1,073.