Documentation Update-June 2002 - Equitable Tourism Options

strengthening India's International Carrier. A total of 115 potential bidders,including 97 for ITOC have been identified for the 13 properties. (Centre to inviteprice bids in November, ITOC, HCI alld HZL divestment, OH, 24/1 0/01 )The Union Government has announced a clear time-table and other bidding detailsfor the first round of Privatisation of Eight ITOC properties spread cross theCountry in a bid to impart transparency to the Disinvestment Process. Accordingto the financial biding schedule drawn up by the Government, the price bidswould be invited first from November 2 for 6 of the eight properties belonging toITDC's hotel chain. In each of these cases, the Government will sell the entireequity in ITOC aggregating 99.97 per cent being the combined share holding ofthe Union Government and Indian Hotels Company Ltd. (Time-table for [TOCbidders, P MallOj, BL, 1/11/01 )The Government has received a lukewarm response from the bidders to thedivestment plan in first trance of eight properties of ITDC . While ITOC's primeproperty at Delhi -Hotel Ashok- and the one at Manali received no bids, theremaining six attracted few takers. The properties which are not cleared by theCabinet Committee on Disinvestment (CCO) for want of bidders or for beinglower than the reserve price will be put up again for bidding when the secondtranche of ITOC properties are put tip for sale . (CCO meet today to discuss [PCL,ITOC disillvestments, BL, 13/1 1/01 )Name of Hotel Buyer Reserve Price Agreed Price Sale/ Lease(in Cr.) (in Cr.)Hotel Ashok Bharat Hotels 3.4 39.41 Lease- 30 yearsBangaloreHotel Ashok M/S Mohan Singh 3.26 3.93 SaleAgraHotel Ashok Sanghu Chakra 3.64 5.48 SaleMaduraiPvt Hotels Ltd.Ashok Bodh Lotus Nikko Hotels 1.67 2.01 SaleCayaITDC Hassan Malnad Hotels 2.19 2.51 Sale& ResortsTemple Bay C. R. Thangamaligai 5.18 6.8 SaleAshok BeachResort,Mamallapuram(Hotel AS/10k in Bangaiore to be leased for 30 years, 1PCL: Govt to sell 51 % stake, OH,14/11/01)The Hotel Ashok Employees Union and All India ITOC Workers' Union (AITUC)burnt the effigies of Prime Minister Atal Behari Vajpayee and Tourism MinisterAnanth Kumar in front of Hotel Ashok today in protest against the leasing out ofthe hotel in Bangalore and the outright sale of ITDC hotels in the Southern Regionof the Country. The Protesters charged the Government with not calling the unionsfor negotiations and going ahead with the finalising process. Their repeated appealsof looking into their problems, to the Prime Minister, Minister for Tourism, Ministerfor Disinvestment and Chairman & Managing Director, ITDC, have fallen on deaf11