Fourteen out of 16 loss-making hotels owned by state-run ITDC will be sold off and the process to privatise them has already started, Tourism and Culture Minister Mahesh Sharma said.
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).