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Govt to complete hotel divestment in 12 months

Fiinews by Fiinews
February 16, 2018
in Economy, Investment, Projects
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Work in progress for 1.8-lakh hotel rooms

Incredible india

The government will complete its India Tourism Development Corporation (ITDC)-owned hotel divestment programme in the next six to 12 months, said Minister of State for Culture Dr Mahesh Sharma.

“We have already disinvested about 8 hotels and in another six months to a year we will be able to disinvest all hotels of the ITDC,” he said at the ASSOCHAM Tourism and Hospitality Conference held in New Delhi on 15 Feb 2018.

He also assured that government will achieve its target of raising infrastructure facilities as per international level at 100 ideal tourist destinations across India within one year.

“Our target is December 2018 and we believe we would be able to take care of it,” said the minister.

Ravneet Kaur, ITDC chairperson and managing director, Ravneet Kaur, said the government is aiming to increase the number of hotel rooms in the country from 1.2 lakh to 1.8 lakh.

“International firms are coming very rapidly in this area, we find that percentage of international hotel chains has gone up from 44% and we expect it to touch 50% in another two years time i.e. by 2020,” said the ITDC chief. fii-news.com

Tags: Ministry of Tourism
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