Cabinet Nod For Leasing Out Iconic Ashok Hotel Sought, Bids To Be Called In FY23
New Delhi, Feb 8: The Centre has put the plan to lease out the iconic Ashok hotel in Lutyens’ Delhi on fast track as part of its asset monetisation plan. The Tourism Ministry has sent the cabinet note for approval and plans to undertake road shows to generate investor interest.
“The proposal for 30+30 years lease-out of Ashok hotel is with the Union Cabinet since December last year. Once the approval comes, we would plan road shows. The bid should be invited in the financial year 2022-23,” a senior official told UNI.
The official said that comments of various departments had been invited before finalising the Cabinet note. “They all have given concurrence for long-term lease of the hotel,” the official said. As per asset monetisation plan prepared by Niti Aayog, all 8 hotel assets of India Tourism Development Corporation (ITDC) have been considered for monetisation during FY 2022 to 2025. ITDC is under administrative control of Tourism Ministry.
In a written reply to a question on proposal to lease out the Ashok hotel, Tourism Minister G Kishan Reddy had in December said, “The proposal is only for Asset Monetization of property of Hotel Ashok, Chankyapuri, New Delhi with a long-term sub-license/ concession period of 60 years.” He further said that the aim of asset monetisation is to make better use of available assets. The sprawling 5-star property in the diplomatic enclave in Chanakyapuri, the Ashok has 550 rooms. It has hosted several prestigious national and international conventions, events and the highest level of dignitaries including Heads of States from across the world.
