India Tourism Development Corporation (ITDC), a public sector undertaking under the Ministry of Tourism, plans to go in for more Joint Ventures (JVs) in the hospitality sector. This is said to be part of the Corporation’s long-term plans in order to regain the ‘circuit advantage’ across India, which the corporation had lost due to disinvestment of some hotels a few years ago.
According to official sources, the Corporation is currently having negotiations with state tourism boards for managing the existing and upcoming properties in states. ITDC currently has six operating JV properties under its fold, in different locations across India. An ITDC official said, “We are currently negotiating with Andhra Pradesh Tourism Development Corporation (APTDC) for JV arrangement in hotels at Hyderabad, Vishakhapatnam and Hrishikesh in Uttarakhand. At Hrishikesh, Andhra Pradesh government owns some land. Similarly, Tamil Nadu Tourism Development Corporation (TTDC) has shown interest for running hotels at Mahabalipuram, Kanyakumari and Madurai,” an ITDC official informed. |