Srinagar, Jan 06: Jammu & Kashmir Tourism Development Corporation has decided to entrust the management of Centaur Lake View Hotel, situated on Dal Lake shores in Srinagar, to external entities.
In pursuit of this initiative, the corporation has initiated the process of soliciting proposals from both national and international entities. The scope of engagement encompasses development, finance, operation, maintenance, and the subsequent transfer of Centaur Lake View Hotel for an extensive concession period of 60 years, inclusive of the construction phase.
As per the notification issued, JKTDC (referred to as “The Authority”) is actively seeking proposals for the comprehensive outsourcing of the hotel’s development, involving design, refurbishment, and upgradation, as well as its ongoing finance, operation, maintenance, and eventual transfer. This venture is structured as a Public-Private Partnership (PPP) following the DBFOT (Design, Build, Finance, Operate & Transfer) model, it added.
“The estimated project cost has been set at Rs. 212.50 crore, underscoring the substantial nature of this undertaking. Interested parties are invited to participate in this transformative opportunity to contribute to the enhancement and sustainable development of Centaur Lake View Hotel, a prime asset in the region’s tourism landscape,” the notification reads.
Early in July 2023, in its 94th Board of Directors (BoD) meeting of the J&K Tourism Development Corporation (JKTDC) directed the officers of Tourism Department to take all necessary measures to promote destinations other than Pahalgam, Gulmarg and Patnitop as attractive tourist spots and improve facilities for stay at these locations.
It was decided that UT administration has plans to lease out assets of the Corporation at renewed terms and realising the outstanding with various debtors. The board also discussed the issues related to different hotels being run by the Corporation at Srinagar and Jammu and other HR related matters.
It also deliberated upon the Corporation’s plan of outsourcing the JKTDC properties on PPP mode at Pahalgam, Kud, Sanasar, Qazigund, Banihal, Ramban, Gulmarg, Jammu and Srinagar besides taking other decisions for the betterment of the Corporation.
