Gujarat Hotels Ltd

Gujarat Hotels Ltd

Promoted by Gujarat Industrial Investment Corporation and ITC Gujarat Hotels Limited was incorporated in August 1982 which acquired its present name in 1985. The Company owns the Welcome Hotel Vadodara in Vadodara operated by ITC Limited under an Operating Licence Agreement.The company set up the first and only five star hotel Welcomgroup Vadodara in 1986 with a capacity of 144 rooms. In 1992 the company jointly formulated a rehabilitation package alongwith the Government of Gujarat and the financial institutions since the company was incurring losses. In accordance to the rehablilitation package the hotel was given on an Operating License to ITC from Oct.'92. After the full-implementation of the rehabilitation package the company in 1993-94 made a net profit for the first time.As a part of its restructuring exercise ITC assigned the Operating License agreement with the company to ITC Hotels with effect from Oct.'94. During the year 2004-05 resulting upon amalgamation of ITC Hotels Limited with ITC Limited ITC Limited became the Operating Licencee of Company's hotel viz. WelcomHotel Vadodara effective from 23rd March 2005.