ITDC eyes ventures in Zambia, Europe
State-run ITDC is looking to spread its wings abroad. It plans to help the Zambian government set up hotels on lines of Ashoka in that country, reports Samiran Saha.business Updated: Jan 25, 2009 20:45 IST
State-run India Tourism Development Corporation (ITDC) is looking to spread its wings abroad. It plans to help the Zambian government set up hotels on lines of Ashoka in that country and is also looking to set up franchise for its famed Frontier restaurant at London and Madrid.
Frontier is a flagship restaurant of the Ashoka that specialises in central Asian and north Indian cuisine.
ITDC is seeking to cash in on the rising popularity of Indian and central Asian cuisine in Europe.
Regarding the franchise for Frontier restaurant, the official said, “We are scouting for franchise partners for the restaurant in London and Madrid. We would charge a 12.5 per cent of the income as franchise fees from parties that are interested in venturing in the project with us,” the official added.
The government of Zambia has invited ITDC to develop two hotels one in its capital Lusaka and the other at Livingstone.
“A delegation of Zambian government representatives were in India last year in connection with an Indo-African summit and were impressed with ITDC’s hotels. They want us develop hotels on similar lines. Land has already been allotted for these two proposed hotels,” a senior ITDC official, who did not wish to be identified, said.
ITDC would assist the Zambian government for the said hotel project.
About the investment in the said projects, the official said, “We as a matter of principle do not invest abroad. We would allow the partner (s) to use the Frontier brand name and charge a fee for using the same.”
ITDC, which current owns 16 hotel properties in 14 cities, has posted profits of Rs 105 crore in 2007-08 and would fund the planned investments through internal accruals, the official said.
First Published: Jan 25, 2009 20:44 IST