India Tourism Development Corporation (ITDC) today transferred its entire 51 per cent equity in the iconic Lakeview Ashok Hotel here to the state tourism development corporation (MPSTDC).
Before the deal, MPSTDC was holding 49 per cent share in the property while ITDC held the remaining 51 per cent.
The iconic hotel is located on the Shyamla Hills overlooking the picturesque Upper Lake of Bhopal.
"The share transfer agreement was inked today in New Delhi and now the hotel is fully owned by the MPSTDC," a senior official said, adding the name of the hotel too will be changed to Hotel Lakeview.
The official did not disclose as to how much MPSTDC paid for the 51 per cent stake to ITDC.
The three-star property has four suits, 39 deluxe rooms, a swimming pool and many restaurants.
MPSTDC will also look for a private player to run it, a senior corporation official told PTI, adding they will add more rooms apart from an ultra-modern convention centre.
The departmental officials said the move has been personally initiated by state Chief Minister Shivraj Singh Chouhan.
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