According to a PIB release, Kumari Selja, Union Minister of Tourism (MoT) has said that out of the eight hotels owned by India Tourism Development Corporation (ITDC), a Central public sector enterprise under the Ministry of Tourism, the following are running in losses as per provisional financial results for the year 2008-09:
In addition, ITDC also manages Hotel Bharatpur Ashok in Rajasthan, which is owned by MoT. This hotel is also running in losses. In a written reply in the Lok Sabha today she said, global slowdown, general recession in the hotel industry and reduction in tourist traffic are major reasons for the losses.
The Minister said, pursuant to the decision taken by the Government to retain the ownership of ITDC hotels, earlier earmarked for disinvestments, essential renovation/refurbishment in ITDC hotels has been undertaken. |