Explore avenues to set up budget hotels: Govt to ITDC
New Delhi: Tourism Minister Subodh Kant Sahai on Thursday asked India Tourism Development Corporation (ITDC) to explore the possibilities of setting up budget hotels in the country for the benefit of tourists.
There is a need for budget hotels in the country and ITDC can play a role here, Sahai said after receiving the divided cheque of Rs 3.95 crore for fiscal 2011-12 from ITDC.
The cheque was handed over to Sahai by ITDC Vice-Chairman and Managing Director Lalit K Panwar here.
The annual turnover of the ITDC, a subsidiary of Tourism Ministry, has increased from Rs 392.36 crore to Rs 423.06 crore registering an increase of 7.82 percent in 2011-12.
The Corporation has earned a profit of Rs 22.02 crore for this fiscal as against a loss of Rs 11.73 crore during 2010-11 and a loss of Rs 20.51 during 2009-10.