Eight ITDC hotels to be privatised


New Delhi: Centre has decided to privatise eight loss-making hotels run by the India Tourism Development Corporation (ITDC). Mahesh Sharma minister of State for Tourism said, it would not be wise to bear the burden of these loss-making units. But ‘The Ashok’, is not the list. Minister, however, ruled out the possibility of selling off ‘The Ashok’, the flagship property of ITDC in the national capital. He informed, attempts are being made to revive it and turn it into a profitable venture this year. Sharma said that eight out of the 16 hotels are not in good shape and the government proposes to disinvest it. The formal process in this regard would begin within two months. Moreover,the total loss of ITDC hotels together was around Rs. 15 crores and out of that The Ashok alone contributed a loss of around Rs. 13 crores in 2014-15.