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ITDC plans to put Delhi’s iconic Ashok Hotel on lease

The India Tourism Development Corporation (ITDC), which currently runs the Ashok Hotel, is planning to lease the iconic property after Niti Aayog proposed that the hotel, located in the heart of Lutyens’ Delhi, be auctioned through a transparent bidding process. Niti Aayog has proposed a 60-year long term lease for Delhi’s first five-star hotel to give private players a free hand to redesign and manage the hotel and ITDC will advertise soon to appoint a consulting firm to manage the process, officials familiar with the matter told ET. Set up in 1956 by India’s first Prime Minister, The Ashok set on 25 acres of land, is part of the Ashok Group chain of hotels owned and operated as public sector undertakings of ITDC. It offers 550 rooms and 162 suites.

Source : ET Realty