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IRCTC Will Open a Chain of Budget Accommodations in India

News Indian Railway Catering and Tourism Corporation (IRCTC) will try its luck in the new sphere of business by opening a chain of budget hotels in India. The company will work together with the country’s government over implementing of this plan. At the first stage of the project the company plans to open hotels in Bhubaneswar, Katra, Chandigarh, Khajuraho and Palanpur.

More locations are to be added in future. According to the senior official of IRCTC, the company has sent proposals concerning the opening of new budget hotels to all states of the country. Positive answers have been received from Jammu and Kashmir, Orissa, Himachal Pradesh, Madhya Pradesh, and Haryana. In all cases IRCTC will act as a developer, owner, and a managing organization. For each hotel the company asks around 1-2 acres of land from government. All land plots are leased minimum for 30 years. Only a 1.5 acre land near Bhubaneswar is finalized at the moment. Other locations are said to be finalized in the nearest future.

A typical budget hotel by IRCTC will have 100 guestrooms, a 24h cafeteria, a modern kitchen and a hall for banquets and other events. The new hotelier wants to open properties not only in business travel oriented locations, but also in popular tourist destinations. For example, the company is in active negotiations with the government of Orissa.

IRCTC plans to finance this large project by taking several loans in largest banks of the country.

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