Transfer (disinvestment) of incomplete projects of Hotel Gulmarg Ashok, Gulmarg and Hotel Patliputra Ashok, Patna to the State Governments of Jammu & Kashmir and Bihar respectively

No: --- Dated: Sep, 26 2018

In continuation of the disinvestment policy of the Government of India, the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has approved to further disinvestment of ITDC properties / units / JVs by way of transfers of Incomplete Project of Hotel Gulmarg Ashok, Gulmarg to the State Government of Jammu & Kashmir and Hotel Patliputra Ashok, Patna to the State Government of Bihar respectively.

Background:

As per the disinvestment policy of the Government of India, it had been decided to lease /sub­lease the India Tourism Development Corporation Limited (ITDC) hotels / properties / units / Joint Ventures (JVs) jointly with the State Governments and where State Governments were not agreeing to the proposal of leasing / sub-leasing, the properties may be returned back to the State Governments at its officially valued price. The policy had been formulated keeping in view that running and managing hotels on professional lines is not the job of Government or its entities.

In pursuance of the disinvestment policy of the Government of India, with the approval accorded by the Cabinet Committee on Economic Affairs (CCEA), the Inter Ministerial Group (IMG) and the Ministry of Tourism (MoT), the ITDC has to date transferred the properties / units / JVs of ITDC of Hotel Lake View Ashok, Bhopal; Hotel Brahmaputra Ashok, Guwahati; Hotel Bharatpur Ashok, Bharatpur; Hotel Janpath, New Delhi (to Ministry of Housing and Urban Affairs); Hotel Lalitha Mahal Palace, Mysore; Hotel Donyi Polo Ashok, Itanagar and Hotel Jaipur Ashok, Jaipur to the concerned State Governments.

Courtesy – Press Information Bureau, Government of India​​​​