Hospitality

ITDC to transfer 51% stake in Donyi Polo Ashok Hotel Corporation

MUMBAI: ITDC to transfer 51% stake in Donyi Polo Ashok Hotel Corporation to Arunachal Pradesh Industrial Development & Financial Corp and Govt. of Arunachal Pradesh, reports Business Standard.

India Tourism Development Corporation announced that on 19 September 2017 a Quadripartite Memorandum of Understanding (MoU) has been executed amongst India Tourism Development Corporation (ITDC), Arunachal Pradesh Industrial Development & Financial Corp (APIDFC), Donyi Polo Ashok Hotel Corporation (DPAHCL) and Government of Arunachal Pradesh (GoAP) for transfer of 51% Equity stake of ITDC in DPAHCL, the Joint Venture Subsidiary Company, to APIDFC/GoAP.

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