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Divestment push: Govt to sell 14 ITDC hotels

business Updated: May 30, 2016 06:10 IST

NEW DELHI: Fourteen out of 16 perennially loss making hotels owned by state-run ITDC will be sold off and the process to privatise them has already started, tourism minister Mahesh Sharma said on Sunday. The minister said the finance ministry is taking forward the disinvestment plan to totally offload government’s stakes in all the ITDC-run hotels except the Ashoka and Samrat hotels in the national capital. He said the government decided to privatise the hotels to improve the financial health of India Tourism Development Corporation (ITDC), a PSU that currently runs 16 hotels in 13 cities.

First Published: May 30, 2016 06:10 IST