PTI

ITDC extends ''Ashok'' brand to six more hotels

Thu, Nov 5 07:16 PM

New Delhi, Nov 5 (PTI) The government today ruled out any further stake sale in ITDC properties and said it has extended the ''Ashok'' brand to six more hotels. "There will not be any disinvestment in ITDC hotels and we will only be adding to our existing properties through the Ashok Alliance venture," ITDC chairman Parvez Dewan said here at a MoU signing ceremony today.

There were 34 ITDC-run hotels before the divestment but have now come down to 16. The state-owned ITDC signed a MoU with six hotel properties in spread over five states today to extend its brand under the newly launched Ashok Alliance scheme, which allows hotels to add the brand ''Ashok'' in its name.

The PSU is learnt to have made the agreement on three per cent revenue sharing basis on room rent in these hotels. The agreement was signed with a five-star hotel in Manesar, a four-star hotel in Kolakata and four three-star hotels in Nagpur, Malout, Jodhpur and Bhiwandi.

ITDC would extend its brand "Ashok" to these hotels either to suffix or affix to their names under the Ashok alliance scheme, said Kuldeep Verma, ITDC Vice-President. Earlier, ITDC had signed agreement with City Beautiful in Chandigarh and River Front Hotel in Surat.

Verma said ITDC has plans to have more such tie-ups in the future. ITDC also signed up an agreement with Indian Institute of Learning and Advanced Development, Gurgaon for post graduation programmes on hospitality and event management training.

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