The Ashok and 7 other ITDC hotels to be monetised

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

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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.