Hotel Lake View Ashok, Bhopal, which had incurred a loss of Rs 17.90 lakh in 2005-06, has earned a profit of Rs 23.87 lakh in 2006-07, an increase of 233 per cent, according to an official release here today.
Hotel Ranchi Ashok's profit before tax increased from Rs 2.17 lakh in 2005-06 to Rs 34.13 lakh in 2006-07, marking an increase of 1472 per cent. There was a 279 per cent increase in the profits of Hotel Pondicherry Ashok, from Rs 25.23 lakh in 2005-06 to Rs 95.67 lakh in 2006-07.
Earlier, the ITDC had declared a dividend of 20 per cent on paid up capital amounting to Rs 13.50 crore for the year 2006-07. This was the first dividend declared since 1998-99.
According to Tourism and Culture Minister Ambika Soni, the ITDC has launched a major renovation and upgradation drive for all its hotel properties throughout the country.
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Work on the renovation of 40 rooms at the Brahmaputra Ashok, Guwahati, has been completed, while the work on a Wellness-cum-Convention Centre is to be completed in 2009. The front wing of Hotel Janpath, New Delhi, has been fully renovated and the back wing and lobby are to be revamped this year.