Tag Archives: ITDC

India Tourism Development Corporation (ITDC) has recently signed a MoU with Hyderabad-based firm, Suraas Impex for developing a mega tourism destination project at Bhairav Lanka in Kakinada, East Godavari District of Andhra Pradesh at an estimated cost of Rs 550 crores. This is the first-of-its-kind project for the state-owned ITDC, which got preferred against several private contenders. ITDC will be the Consulting Agency as well as Implementing Agency for the DPR and the execution which shall be taken up in three stages, i.e., preparing the DPR, implementation of project costing around Rs 550 crores and implementation of second phase of the project. ITDC has been the prime mover in the progressive development, promotion and expansion of tourism in the country. The Division has completed 67 infrastructure projects for Ministry of Tourism, Ministry of Culture and various state governments. The division has also prepared more than 85 DPRs for various tourism projects in the country. The corporation provides Engineering Consultancy Services through its full-fledged Ashok Consultancy & Engineering Services Division. It undertakes development of tourism infrastructure projects from concept to commissioning.

Ashok Institute of Hospitality and Tourism Management (AIH&TM), the Human Resource Development division under India Tourism Development Corporation (ITDC), has been certified with ISO 9001:2015 certification for imparting quality education in hospitality and tourism management. To ensure that various activities undertaken by the institute are standardised with latest quality policy Ashok Institute of Hospitality and Tourism Management (AIH&TM) has now upgraded to ISO 9001:2015 Certification. Besides conducting short duration customised training programmes for hotels and restaurants, AIH&TM has offered hospitality-related training consultancy for Ministry of Tourism, President House, Prime Minister’s House, State Bhawans, Indian Foreign Services, Shri Mata Vaishno Devi Shrine Board, public sector organisations and State Tourism departments. Commenting on the certification, Piyush Tiwari, Director Commercial & Marketing, ITDC, said, “ITDC stands for change and development in tourism and hospitality and assist in building a better nation. Also, we ensure that we are parallel to the advancements in terms of quality and technology. The ISO 9001:2015 certification confirms our capability to deliver knowledge and training in the best possible way to help build a skilled India.”  

India Tourism Development Corporation (ITDC), conducted its 52nd Annual General Meeting at The Ashok, New Delhi. Chairing the meeting, Ravneet Kaur, IAS, Chairperson & Managing Director, ITDC, announced that corporation closed the year with a turnover of Rs. 495.14 crore during 2016-17. The net profit before tax has been recorded to Rs.17.52 crore during 2016-17. Also, the board declared and approved a dividend of 13.30 per cent amounting to Rs.11.41 crore approximately in the meeting held on May 30, 2017. Other Board of Directors present during the meeting included Piyush Tiwari, Director (Commercial & Marketing), Pradip Kumar Das, Director (Finance), government nominee directors and independent directors. The CMD announced that ITDC has shown a significant improvement in the operational efficiency. Overall occupancy during 2016-17 was 58 per cent as against 52 per cent during 2015-16 with flagship Hotel ‘The Ashok’ recording highest turnover of Rs. 152.91 cr during 2016-17. The board said that a big push is being given to connect ITDC with new customers especially with younger generation through print and social media. Steps are being taken to make ITDC website more attractive and user friendly.

Indian Tourism Development Corporation’s (ITDC’s) Hotel Brahmaputra, formerly known as Hotel Brahmaputra Ashok, is reportedly all set to close its operations from September 1 this year, according to Assam Tourism Development Corporation Limited (ATDCL). ATDCL has announced in a notification that all pre closure business deals pertaining to Hotel Brahmaputra will be handled by them. ITDC has already exited from Hotel Lake View Ashok, Bhopal; Hotel Brahmaputra Ashok, Guwahati, and Hotel Bharatpur Ashok, Bharatpur, as part of its disinvestment strategy. The disinvestment decision was reportedly taken at the Cabinet Committee on Economic Affairs (CCEA) meeting  chaired by Prime Minister Narendra Modi in May this year. (Source: Economic Times)    

India Tourism Development Corporation (ITDC) has performed remarkably in the first quarter of the current financial year 2017-18. The total turnover in quarter ending June 2017 increased to Rs.109.60 cr as compared to Rs. Rs. 91.42 cr in the corresponding quarter last year. The PSU registered Net Profit Before Tax (PBT) at Rs. 25.19 cr as compared to Rs. 14.30 cr in the corresponding quarter last financial year i.e. 2016-17, which is an increase of 76.15% from last year. The details were announced at the Board of Directors’ meeting of the company held on August 14th, 2017 at The Ashok, New Delhi.

Ravneet Kaur, has been appointed as the new Chairman and Managing Director of India Tourism Development Corporation (ITDC). Before this, Kaur was Joint Secretary in the Department of Industrial Policy and Promotion. She is from the 1988 batch IAS officer of Punjab cadre and has now been promoted to Additional Secretary level.

India Tourism Development Corporation Ltd. (ITDC), signed a Memorandum of Understanding (MoU) with Air India to upgrade the skills and knowledge base of the national airline’s senior executive & cabin crew in hospitality and service industry. The MoU was signed in the presence of Ashwani Lohani, Chairman and Managing Director, Air India and Sudha Chandra, Principal, Ashok Institute of Hospitality & Tourism Management (AIHTM) and General Manager, HRD ITDC at Air India Head Quarters, New Delhi on May 29, 2017. In line with the MoU, AIHTM conducted a 5-Day training program on Leadership Excellence from July 11-15, 2017 for the first batch of senior executives of Air India at Hotel Samrat, Delhi. Speaking oat the Valedictory function held at Hotel Samrat on July 15, 2017, Piyush Tiwari, Officiating Chairman &Managing Director and Director Commercial & Marketing, ITDC said that, “ITDC is grateful to Air India and Shri Ashwani Lohani for their faith in ITDC’s expertise in hospitality training and management. We are proud that we have been the biggest force to drive tourism in India and have always contributed in nation building and progressive development of the industry. Our talented team at AIHTM has specially designed curriculum for Air India employees in consultation with best faculties and Air India management. We are going to plan more programs in the coming quarters for enforcing strength and leadership quality in other organisations as well. ITDC and Air India are two most prominent and visible PSUs in service sector and have lots of common traits and can work for mutual benefit.”  

India Tourism Development Corporation (ITDC) has posted a growth of 6.32 per cent with a total turnover at Rs 495.14 crore as compared to Rs. 465.69 crore in last financial year. Revenue from operations stood at Rs. 473.15 crore as compared to Rs. 437.13 crore in the last fiscal. Corporation posted profit before tax (PBT) of Rs.17.52 crore and profit after tax (PAT) of Rs.12.05 crore in 2016-17 against Rs. 32.42 crore and Rs. 22.55 crore respectively in the previous year. The results were announced in the Board Meeting held on May 30, 2017, at the Group’s flagship hotel, The Ashok, New Delhi. Piyush Tiwari, Officiating Chairman & Managing Director and Director (Commercial & Marketing), India Tourism Development Corporation (ITDC), said, “FY 2016-17 has been a motivating year for ITDC as it was the golden jubilee year for the organisation. The profit is result of several proactive initiatives taken by the organization to improve productivity and efficiency at the beginning of the year. Besides posting continuous profit year after year, ITDC has maintained its status of Mini Ratna and its commitment towards the shareholders through announcing consistent dividends for last four consecutive years.” Hotel The Ashok, Ashok International Trade division and Ashok events division of ITDC were other contributors to the profit for FY 2016-17. The Ashok hotel posted a highest ever turnover amounting to Rs. 152.91 crore.

The Cabinet Committee on Economic Affairs has given its ‘In Principle’ approval to transfer the property of Hotel Janpath, New Delhi to Ministry of Urban Development. The property can be considered for construction of Government offices and similar purposes which would save government funds spent in hiring of government offices. Details of implementation of the project, land usages, etc. would be taken subsequently by a Committee of Secretaries to be constituted under the chairmanship of Cabinet Secretary. The building of Hotel Janpath has to undergo major rehabilitation work since the building structure of Hotel Janpath has been found to be unserviceable, in distressed condition and deficit in the context of seismic requirements, according to the inspection report of IIT Roorkee. The Government of India has initiated the process of disinvestment of hotels / properties of the India Tourism Development Corporation Ltd. (ITDC). The decision on disinvestment-has been made, keeping in view that running and managing hotels on professional lines is not the work of the Government or its entities. In the first stage of the disinvestment process, it was decided to disinvest three hotels, viz. Hotel Lake View Ashok, Bhopal, Hotel Brahmaputra Ashok, Guwahati and Hotel Bharatpur Ashok. Hotel Janpath, New Delhi is next in the list.  

The Cabinet Committee on Economic Affairs has approved the initiation of the process of disinvestment of hotels/properties of the India Tourism Development Corporation Ltd. (ITDC). In the first stage of the disinvestment process, three hotels have been taken up for disinvestment—Hotel Lake View Ashok, Bhopal Hotel Brahmaputra Ashok, Guwahati, Hotel Bharatpur Ashok, Bharatpur. In all three cases, the hotels/properties are being given back to the concerned states. In the case of Bhopal and Guwahati, ITDC is divesting its share of 51 per cent in the Joint Venture Company formed for operation of the hotels whereas in the case of Bharatpur, the unit which was only managed by ITDC is being returned to the State Government. The decision on disinvestment has been made, keeping in view that running and managing hotels on professional lines is not the work of the Government or its entities. Further, there has been considerable development in the hospitality sector in the country in past years, with world class hotels and all leading international chains of hotels present in the country and providing services and facilities of highest standards. As part of the disinvestment policy, it has been decided to lease/sub-lease the hotels/properties jointly with the concerned states or return the properties to the states, after fair valuation. The states would then have the option to upgrade and operate the Hotels by involving the private sector or to utilize the properties as per their requirements. States have exercised their options accordingly, in each case going forward with the option best suited to their needs, in line with the overarching principle that it is not the business of Government to run or manage hotels.