New Delhi, July 7 -- India's leading hotel operators are opening their wallets to spruce up some of their oldest and most iconic properties, with consultants estimating that the combined renovation bill could reach Rs.2,000-3,000 crore in FY27.

During their fourth-quarter earnings calls, EIH Ltd, Indian Hotels Co. Ltd (IHCL) and Lemon Tree Hotels Ltd said they were stepping up capital expenditure on marquee assets to preserve pricing power and drive higher yields.

EIH, an Oberoi Group company, outlined a multi-year refurbishment programme as it looks to strengthen its existing portfolio while awaiting new room additions.

Renovation work, including structural upgrades, is underway at The Oberoi Grand, Kolkata, while nearly 90 rooms at T...