ITDC invites participation from states
Riding on profits after two successive years of loss, the renewed enthusiasm of India Tourism Development Corporation (ITDC) is on display as it invites states and private players to invest in hospitality development through PPP where it could participate
As India Tourism Development Corporation (ITDC) evolves from the losses incurred in the recent years and gains a momentum on the balance sheet, it is also professing a new direction of growth (primarily inorganic) where it intends to enter into partnership with states to augur tourism. At the recently held press conference in the capital to announce its positive financial results following its AGM, in which ITDC decided to pay dividends to its shareholders, Shankersinh Vaghela, Chairman, ITDC said, “As a corporation, we are going to get better from here on as we have improved our operational efficiency, curtailed expenditures and increased our profitability.
We are also trying to venture into newer areas where we can form a partnership with states for hospitality marketing and development.”
According to him, ITDC is willing to extend its hands to the states if they wish to enhance its hospitality resources. Lalit Kumar Panwar, Vice Chairman & MD, ITDC said, “The first step has to be taken by the state tourism departments where scope of any hospitality project could be established.
The states can market ITDCowned properties and we can market the states through our properties and online efforts.”
State-run ITDC is also keen to bring about hospitality development in the various states with the interest of private operators through Public- Private Partnership (PPP) for which it has drawn up plans where existing properties will be upgraded in PPP mode. Vaghela remarked, “We are making efforts to upgrade our properties and also exploring the possibilities of attracting private investments in areas of additional product develop- ment where states can play a very important role. PPP will come about by floating tenders for which our planning is underway.” The corporation is also looking at Gir Forest in Gujarat and Bodhgaya in Bihar where it has such opportunities. It is also open to the idea of partnering with private entities where ITDC can manage new facilities like convention halls and hotels.