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Wednesday, Feb 06, 2002

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Sale of 3 ITDC, HCI assets okayed

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THE Cabinet Committee on Disinvestment (CCD) on Tuesday cleared the sale of three hotel properties belonging to the India Tourism Development Corporation (ITDC) and Hotel Corporation of India's (HCI) Centaur property at Mumbai airport for a total consideration of Rs 202.41 crore.

A.L. Batra, who owns Delhi's Radisson Hotel, won the deal for acquiring HCI's hotel for Rs 83 crore as against a reserve price of Rs 78 crore fixed by the Government.ITDC's Lodhi Hotel and Qutab Hotel properties in New Delhi have been sold to Silverlink Holdings, Singapore and the Sushil Gupta consortium belonging to the Hyatt Group for Rs 76.22 crore and Rs 35.67 crore respectively. .

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