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Two state-owned hotels to be leased out soon: DIPAM Secy

Tuesday, February 6, 2018, 11:00 Hrs  [IST]

A moneycontrol report stated that two state-owned ITDC hotels will soon go for auction as part of government's plans to privatise these properties, a senior government official said yesterday.

Neeraj Kumar Gupta, Secretary, Department of Investment and Public Asset Management (DIPAM) said the Centre had last year exited from five India Tourism Development Corporation (ITDC) hotel properties, which were in collaboration with various state governments.

"We have taken the money and settled them with the states. Now states are in the process of coming out with the lease. Two joint leases, very promising, will come in the market very soon," Gupta said at the Ficci post-Budget meet.

He said 14 joint ventures or units of ITDC which they have to settle with either private management or with states.

Elaborating on his plans to raise INR 80,000 cr in 2018-19 fiscal through disinvestment, Gupta said his department is working on a new debt Exchange Traded Fund (ETF).

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