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Last Updated : Sep 26, 2018 09:07 PM IST | Source: PTI

Cabinet approves disinvestment of ITDC hotels in J&K, Bihar

Incomplete project of Hotel Gulmarg Ashok in Gulmarg will be transferred to Jammu and Kashmir and Hotel Patliputra Ashok in Patna to Bihar, it said. These were properties of India Tourism Development Corporation (ITDC) Limited.

In continuation of the disinvestment policy of the government, the Cabinet Committee on Economic Affairs on September 26 approved handing over of two ITDC hotels in Jammu and Kashmir and Bihar to the respective state government, according to a statement.

Incomplete project of Hotel Gulmarg Ashok in Gulmarg will be transferred to Jammu and Kashmir and Hotel Patliputra Ashok in Patna to Bihar, it said. These were properties of India Tourism Development Corporation (ITDC).

"As per the disinvestment policy of the government...the properties may be returned back to the state governments at its officially valued price...The policy had been formulated keeping in view that running and managing hotels on professional lines is not the job of government or its entities," the statement said.
First Published on Sep 26, 2018 08:53 pm
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