The central government has decided to license The Ashok Hotel for 60 years through the operate-maintain-develop (OMD) model. The government will also monetise its 6.3-acre spare land in New Delhi for commercial purposes.
Luxury apartments will also be built on the land through a public-private partnership (PPP), Business Standard reported on Thursday. The makeover is expected to cost Rs 450 crore.
The hotel, standing tall in the heart of the national capital, has its own story.
Also Read | Centre to monetise The Ashok Hotel; Samrat to be retained by ITDC
Also Read | Centre to monetise The Ashok Hotel; Samrat to be retained by ITDC
History of The Ashok