The Government is considering leasing ITDC hotels with management right to private companies as part of its efforts to monetise the properties owned the state-run firm. According to sources, the Government is chalking out a plan under which ITDC hotels that are owned and run by the Centre would be let on lease to private companies.
These companies will have the right to decide on management, expansion and new investments. Hotels that are run jointly by the Centre and states can also be given to private entities on lease, sources said. In case of hotels that are built on state land, the right could be transferred to the states for a consideration. The state governments can then decide to sell or to lease to private entities. The decision to lease and transfer management control of hotels assumes importance as the Government has been trying for strategic sale of ITDC hotels for 2 years.