Govt plans complete exit from ITDC hotels
The Government of India is considering a complete exit from the India Tourism Development Corporation (ITDC) by selling 87 per cent of its shares.
As part of its disinvestment exercise, the Cabinet, in September 2017, has approved the transfer of Hotel Jaipur Ashok and Lalitha Mahal Palace Hotel, Mysore, to the governments of Rajasthan and Karnataka respectively. It also cleared disinvestment of ITDC’s 51 per cent equity in Donyi Polo Ashok, Itanagar, in favour of Arunachal Pradesh.
ITDC currently runs 16 hotels in Delhi, Patna, Jammu, Ranchi, Bhubaneswar, Puri, Bhopal, Bharatpur, Jaipur, Guwahati, Mysore, Puducherry and Itanagar. The government will likely to sell 14 out of 16 loss-making hotels to private parties.