CMD, ITDC Presents Dividend Cheques of ITDC & KFHL for 2014-15 Amounting to Rs.18.88 Crores to Dr. Mahesh Sharma

CMD, ITDC Presents Dividend Cheques of ITDC & KFHL for 2014-15 Amounting to Rs.18.88 Crores to Dr. Mahesh Sharma 

The Chairman, Indian Tourism Development Corporation (ITDC) Shri Umang Narula presented Two Dividend cheques of ITDC and KFHL for 2014-15 for the Government of India amounting to Rs.18.88 crores to the Minister of State (I/C) for Tourism and Culture Dr. Mahesh Sharma here today. Secretary, M/o Tourism Shri Vinod Zutshi and senior officers of Ministry and ITDC were present on the occasion. 

Addressing on the occasion, the Minister said that as per the initiatives of the Prime Minister for ‘Good Governance’ taken last year, the good results have started yielding now. The officers of his Ministry and Departments have been assigned target oriented goals with proper transparency. His Ministry had recently held a meeting with the representatives of 8 States on the issue of loss making hotels, he added.

ITDC, a PSU under the administrative control of the Ministry of Tourism has declared a dividend of 20% amounting to Rs.17.15 crore for 2014-15, the highest ever in terms of amount and the highest since 2007-08 in terms of percentage and Kumarakruppa Frontier Hotels Pvt. Ltd. (KFHL), another PSU under the Ministry of Tourism has also declared a dividend amounting to Rs.4.39 crore for 2014-15.

For the financial year 2014-15, ITDC posted a robust performance registering the Net profit of Rs.38.95 crore on a turnover of Rs.504.19 crore, the highest since 2007-08. Of the overall performance, the Hotel Segment i.e. the Core area of ITDC achieved a impressive turnover of Rs.283.90 crore with a profit of Rs.10.81 crore. Besides Hotels, the other segments dealt by ITDC are Tours & Travels, Events Division, Institute of Hospitality & Tourism Management, Consultancy & Engineering Services, International Trade Division all under the brand of Ashok.

ITDC had eight hotels of its own and five joint venture hotels under the brand of Ashok. Besides hotels, ITDC also managed catering at VVIP Venues like Hyderabad House, Vigyan Bhawan. The Ashok hosts various important conferences, prestigious events for various Ministries, Government bodies and Corporates. Chefs from Ashok Group of Hotels participated in Indian Food Festivals in various countries including Egypt, Cairo, Stockholm, Cambodia, China, South Africa, Lebanon, Dominican Republic, Zimbabwe, Algeria, Mauritius, Argentina, Paraguay, Cyprus, Netherland, Bali & Indonesia on behalf of the Government of India showcasing the fineries of Indian Cuisine to the world. Chefs of the ITDC Group of Hotels also won a number of prestigious awards.

During 2014-15, the Events Division of ITDC hosted “India-US CEO Forum” [ chaired by the Hon’ble Prime Minister of India & His Excellency The President of USA];”India-US Business Summit” [ chaired by the Hon’ble Prime Minister of India & His Excellency the President of USA]; besides many other prestigious events organized by the Government of India.

Sound & Light Show(SEL) is the unique expertise of ITDC. The Sound & Light Show Division is primarily undertaking the implementation of Sound & Light Show projects across the country. The Division undertakes the project right from the site identification stage to conceptualization till commissioning. The Division has recently mounted show at Ross Island in Andaman & Nicobar and another at Deoghar in Jharkhand.

Ashok Institute of Hospitality & Tourism Management segment of ITDC (AIH&TM) set-up, a Centre of Excellence at Hotel Samrat, New Delhi in affiliation with National Council of Hotel Management Catering Technology providing B.Sc. Course in Hospitality & Tourism Management at the level IHM. 

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Tourism Minister of Bulgaria Meets Dr. Mahesh Sharma 

Mrs. Nikolina Angelkova, the Minister of Tourism of the Republic of Bulgaria along with a delegation met Dr. Mahesh Sharma, the Minister of State (I/C) for Tourism and Culture here today. They discussed the issues of mutual cooperation for the promotion of Tourism sector in both the countries. Dr. Sharma assured the visiting Minister of the cooperation of his Ministry in strengthening bilateral relations between the two countries and said that all possibilities would be explored for promoting tourism.

India Tourism had conducted a seminar for travel agents in Sofia, Bulgaria in November 2014 which was attended by 69 Travel Agents. Lack of Direct Air Connectivity between India and Bulgaria is one of the major reasons for small number of tourists travelling between the two countries. Tour operators and Travel Agents of both the countries may interact with each other in order to promote two way tourism between India and Bulgaria.