The Ashok and 7 other ITDC hotels to be monetised
Key points
The Ashok and the Hotel Samrat are among eight India Tourism Development Corporation (ITDC) properties that Finance Minister Nirmala Sitharaman listed in the National Monetisation Pipeline (NMP).
Under the monetisation plan, ITDC would divest Hotel Ranchi Ashok in Ranchi as well as Hotel Nilachal in Puri.
Hotel Pondicherry Ashok in Puducherry would be monetised by means of joint leasing.
O&M (Operation & Maintenance) contract model will be followed for Hotel Jammu Ashok in Jammu and Hotel Kalinga Ashok in Bhubaneswar.
Anandpur Sahib Hotel will be privatised along with transfer of ownership.
New Delhi’s Hotel Ashok will be monetised by means of a sub-lease, whereas, Hotel Samrat will be given to private players under O&M agreement.
About Indian Tourism Development Corporation (ITDC)
ITDC is a PSU under the Tourism Ministry. It runs hotels and restaurants at various places for tourists and also provides transport facilities. Present network of ITDC comprises of:
Four Ashok Group of Hotels
Four Joint Venture Hotels
Four catering outlets
Seven transport units as a part of travel and tourism infrastructure
14 Duty-Free Shops at Seaports,
One sound and light show
.
Background
All the 8 hotel assets of ITDC will be considered for monetisation during the financial year 2022 to 2025.
The Ashok group of hotels
These are the flagship hotel chains under ITDC, having a brand value developed in the last 40-50 years. These hotels have been the centre stage for all government events that are organised by various ministries and public sector entities.
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