Samrat Hotel for special security measures before disinvestment

Under instructions of the Special Protection Group and Intelligence Bureau, the Ministry of Disinvestment has decided to go ahead with the s...

Under instructions of the Special Protection Group and Intelligence Bureau, the Ministry of Disinvestment has decided to go ahead with the selloff of ITDC Samrat Hotel after adopting special security measures.

The disinvestment secretary Pradeep Baijal said ‘because of Samrat Hotel’s proximity to the Prime Minister’s house, the ministry has been asked to disinvest Samrat hotel subject to special precautions including blocking of couple of upper stories’. To start the disinvestment process of Samrat Hotel, the expression of Interest is expected to be invited next month, he added.

Regarding capital’s Ashoka Hotel, Baijal said that ‘tourism ministry had taken Ashoka Hotel out of the disinvestment list while saying that they will either restructure the hotel or will get back to us”. However, disinvestment ministry has not heard anything from them so far, he said. It is likely that both Samrat and Ashoka Hotel will be given away on 50 years management lease. In case of blocking of few upper stories in Samrat, the buyer will be given some amount of concession. In the fiscal year 2000-01, Ashok Hotel incurred losses of Rs 8.03 crore while Samrat Hotel suffered 1.64 crore loss.

ITDC’s third contentious property in the capital, Ranjit Hotel is all set to be sold as per the masterplan. The buyer will have to use it according to the masterplan and not as a hotel, sources said.

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