Concept to commissioning

TFCI has been active in financing hospitality training institutes, spas, theme/amusement parks, tourist trains and infrastructure sector…

TFCI, a specialised financial institution in the field of tourism, over its 25 years’ of existence, has sanctioned financial assistance to about 700 hotel/other tourism-related projects in the country resulting in catalysing investments to the tune of Rs 24,581 crore in the tourism sector.

Regarding the USP of the company, SK Sangar, Managing Director, TFCI said, “TFCI, besides providing employment to about 83,749 the fact that hotel are long gestation projects).” TFCI also offers project/tourism-related services right from the ‘Concept’ to ‘Commissioning’, he added.

Talking about new tourism-related projects the company financed last year, he replied, “TFCI, besides the accommodation sector, has been active in financing restaurants, hospitality training institute, spas, theme/amusement parks, etc. Some of the new projects financed by our company last year include restaurants, resorts, hotels, etc.” core areas. Firstly, greenfield projects preferably three-star and budget in Tier- I and- II cities. Secondly, resort financing with operating arrangements and captive clients for renovation/ refurbishing, extension /expansion. Thirdly, takeover of construction of risk-free assets.

Government measures like extension of tourist visa on arrival (VoA), electronic travel authorisation (ETA),etc are all likely to drive the industry in 2015 leading to increase in FTAs, the MD opined.