Srinagar: To lessen its financial load, the Jammu and Kashmir government has started the process of outsourcing 14 properties owned by the Jammu and Kashmir Tourism Development Corporation (JKTDC).
To enhance the infrastructure of the JKTDC through a public-private partnership, the government has invited Expressions of Interest (EoI) with investors being urged to submit comprehensive applications by December 15.
The government, according to officials, has started a process to promote the development, operation, and maintenance of various hospitality infrastructures at 14 locations in J&K on a Public Private Partnership (PPP) basis and has invited EoI from the interested national and international entities (companies with experience in hospitality, tourism industry, restaurants, and wayside amenities).
While the first meeting of the potential investors was conducted last week, document downloads began in November.
The Fern Hotels and Resorts, KC Residency, Lords Hotels and Resorts, Hub Holiday, Club Mahindra, ITC Hotels, and other companies sent representatives to the meeting.
They received a thorough explanation of the properties that would be created in the PPP mode.
Interested investors have also been asked to submit complete applications by December 15.
The form can be downloaded from the JKTDC website www.jktdc.co.in.
Furthermore, an EoI has to be submitted in the prescribed manner through email on email@example.com by 5 pm of December 15, 2022, in English language.
The interested investors have been asked to go through the checklist before submission which includes a letter of application including preference towards bundling of project assets, details of the applicant in terms of firm details, experience in the restaurant, hotel, and resort or any other hospitality business, financial details in terms of net worth, annual turnover and revenue from operations and revenue from similar projects like hospitality, tourism industry, restaurants, and wayside amenities for last five years and comments and suggestions on the proposed facilities at each of the project location, copy of the registration certificate of the firm, and a copy of GST registration certificate.
The sources said that the majority of the properties owned by the Tourism Department and JKTDC were not producing the anticipated income for a number of reasons.
“Additionally, neither the Tourism Department nor the JKTDC has sufficient manpower for proper upkeep and maintenance of their assets as a result of which their current revenue being generated by the assets of these organisations is not sufficient even for their routine maintenance,” they said.