CCEA approves transfer of two ITDC Hotels to Rajasthan & Karnataka govts

Speed Post News Network

New Delhi : The Cabinet Committee on Economic Affairs (CCEA) chaired by PM Narendra Modi has given its approval to the transfer of Hotel Jaipur Ashok, Jaipur, and Lalitha Mahal Palace Hotel, Mysore, units of India Tourism Development Corporation Ltd (ITDC), to Government of Rajasthan and Government of Karnataka, respectively, and disinvestment of ITDCs shares in M/s Donyi Polo Ashok Hotel Corporation.

As per disinvestment policy of the Government of India, it has been decided to lease/sub-lease the ITDC hotels/ properties jointly with the states and where states have not agreed to the proposal of leasing/sub-leasing, the properties may be returned back to the states at their officially valued price. The policy has been formulated keeping in view that running and managing hotels on professional lines is not the job of Government or its entities, according to a PIB release.

In pursuance of the disinvestment policy of the Government, the Ministry of Tourism has till  date transferred the properties/units of Hotel Lake View Ashok, Bhopal, Hotel Brahmaputra Ashok, Guwahati, Hotel Bharatpur Ashok, Bharatpur, to the state governments concerned. In addition, ‘in principal’ approval for transfer of Hotel Janpath, New Delhi, to Ministry of Urban Development, Government of India, has also been accorded by the CCEA, according to the PIB release.