The government has decided not to sell the property of three ITDC hotels during divestment since there are not title deeds to them. These properties will instead be leased out to interested private players.
Out of the 26 hotels of the India Tourism Development Corporation, the Ashoka Hotel, Delhi, Ashoka Hotel, Bangalore and Lalit Mahal Palace, Mysore do not have title deeds.
According to top government officials, title deeds were never prepared for these hotels.
The reason being given out for the leasing, however, is that since these hotels are landmarks in their cities, it is not appropriate to dispose of them.
In the case of the remaining 23 hotels, the government will divest its entire 100 per cent stake to private parties through a competitive bidding process.
The inter-ministerial group has also decided to carry out disinvestment of the properties in phases.
