Jammu, Feb 9: Jammu and Kashmir administration has constituted a committee for the valuation of the Jammu Ashok Hotel, situated on Jammu-Srinagar highway opposite of the Hari Palace.
In a government order issued on February 8, sanction has been accorded to the constitution of a committee, comprising of MD, JKTDC; representative of the Finance Department, besides two engineers and a government-approved valuer.
Hotel Ashok, the oldest hotel in the heart of Jammu city, had shut down its operation in June last year.
India Tourism Development Corporation (ITDC), that ran the hotel for several years, ceased the operations and put out the closure notice on the entry points of the hotel in June 2020.
The Hotel Ashok was built on the land leased out by the Government of J&K in 1970 for a period of 40 years.
Dr. Karan Singh, the scion of royal Dogra heritage, was one of the 25 initial investors before the chain was taken over by the ITDC.
It was under G. M Sadiq’s government in 1970 that this prime property was leased out for setting up Hotel Ashok in Jammu. The hotel was inaugurated by Dr. Karan Singh while he was Union Minister for Tourism and Culture.
An official at ITDC told Ziraat Times that the corporation has ceased the operation of Hotel Jammu Ashok due to non extension of lease of the land provided by the then J&K Government.
With ITDC tenure of management of the property having come to an end, there are speculations in business circles in Jammu city that the latest move may mark the first step towards a formal sale of this property by J&K administration.
Ziraat Times jas learnt that several other properties of J&K Tourism Development Corporation have been identified for sale this year to address efficiency and financial loss issues.