Post-Covid tourism revival along with a string of tourists-friendly steps at its iconic hotel The Ashok and duty free shops across 14 seaports has helped the public sector unit, India Tourism Development Corporation (ITDC) to continue its stellar performance.
Union Tourism Minister G Krishna Reddy recently informed the Lok Sabha that for the half year ended 30th September, 2023, ITDC has reported turnover of Rs 255.04 crore up by 31 per cent over the corresponding period of last year of Rs 195.37 crore. It has achieved net profit of Rs 37.4 crore in the first half of fiscal 2023- 24, i.e. an increase of 60 per cent over the corresponding period of last year, said the Minister.
The total turnover for the fiscal year 2022-23 stood at Rs 458.08 crore for ITDC, representing an increase of over 58% compared to the previous year.
Reddy was replying to a written query posed by Lok Sabha MP Sumedhananad Saraswati about steps being undertaken by the Government to streamline ITDC Hotels and role of the PSU in promoting tourism and hospitality sectors in the country.
During pandemic times, the PSU's earnings had taken a beating, witnessing a negative bottomline due to low tourists turnout.
Reddy spelled out various steps being initiated to boost the revenue of its verticals like Ashok Group of Hotels under which the Ashok Hotel and Hotel Samrat at New Delhi, Hotel Kalinga Ashok (Bhubaneswar, Orissa) are being operated under the ITDC/JV. "The joint venture company hotel is The Ashok Beach Resort, Puducherry with PIPDICL," said the Minister. Some of the hotel properties of the ITDC are in the process of divestment.
Renovation of 48 guest rooms, improvement of main lobby, addition of new swimming Pool for guests and a new licensed F&B outlet in Samrat Hotel, New Delhi and tie ups with most of the online travel agent's for online room bookings are some of the measures taken by the PSU.
"Ashok events division has been utilized by many central ministries, government departments, autonomous bodies etc. for executing their events in India and internationally," said the Minister.
Also, ITDC's Duty Free division has been profitable and even as on date when due to the pandemic, most of the travel and tourism related business have taken big hits, ITDC's Duty Free shops at 14 Seaports/locations for international tourists continues to earn profits for ITDC and the government, he said. The ITDC is also eyeing cruise tourism around India's coastal towns to tap growing tourists inflow in the country