You are here: Home » PTI Stories » National » News
Business Standard

'ITDC incurred losses of around Rs 20 cr in 3 yrs in running 7 hotels'

Press Trust of India  |  New Delhi 

The Centre today informed Parliament that ITDC had incurred losses of around Rs 20 crore in the last three years, till December 2017, in running its seven hotels.

In a written reply in the Lok Sabha, of State for Tourism K J said currently, the (ITDC) Limited was running nine hotels under the administrative control of the -- The Ashok and hotels in New Delhi, Hotel Jammu Ashok, in Patna, in Bhubaneswar, in Mysuru, Hotel Ranchi Ashok, in Itanagar and

The last three hotels were being run as a joint venture of the ITDC and the respective state and Union territory governments, the said.

In 2014-2015, the losses of the ITDC in running these hotels amounted to Rs 8.86 crore, in 2015-2016, the amount was Rs 5.20 crore, in 2016-2017, it was Rs 4.99 crore and from March to December, 2017, the amount was around Rs 95 lakh, taking the total loss to Rs 20 crore in the three years.

"The main reasons for the losses incurred have been competition from new and modern hotels, increase in the available room inventory, increasing wage cost, hike in power and fuel cost," the said.

added that ITDC had taken measures to modernise its hotels, including upgradation of the rooms, addition of new facilities, tie-ups with online travel agencies and on-the-spot customer feedback facilities.

He said under the disinvestment policy of the government, it was decided to transfer the loss-making properties to the state governments or go in for a joint leasing of these assets with the state governments.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 02 2018. 22:05 IST
RECOMMENDED FOR YOU