HPTDC turns the corner, earns Rs 3.43 cr profit after a decade

Shimla, May 18

The Himachal Pradesh Tourism Development Corporation (HPTDC) has turned the corner and registered a profit of Rs 3.43 crore in fiscal year 2022-23 after more than a decade.

However, 27 of the 55 hotels and 17 restaurants and cafes of the HPTDC are still making losses. “The profit of Rs 3.43 crore has come after providing for Rs 6 crore enhanced welfare bill of the employees of the corporation,” says Amit Kashyap, Managing Director, HPTDC, and Director Tourism.

The news of profit comes as a big breather not only for the government but also for 1,760 HPTDC employees, including 1,220 regular, amidst the talk of disinvestment. The HPTDC had registered a loss of Rs 10.58 crore in 2021-22 and Rs 39.65 crore in 2020-21, primarily due to the Covid outbreak.

However, the issue of leasing some of its loss-making units still remains, especially in view of the state facing a financial crisis. As per the latest data, 30 of the 56 properties, including hotels and cafeterias of the HPTDC, are in the red.

Among the highest loss-making units are Shivalik Hotel, Parwanoo, (Rs 44.07 lakh); Hotel Meghdoot at Kiarighat, Solan, (Rs 40.82 lakh); Kunal Hotel, Dharamsala, (Rs 34.47 lakh); Hadimba Hotel, Manali, (Rs 27.22 lakh); Hotel Baghal at Darlaghat, Solan, (Rs 26.92 lakh); Hotel Sarvari, Kullu, (Rs 25.02 lakh); and Hotel Suket, Mandi, (Rs 24.48 lakh).

Chief Minister Sukhvinder Singh Sukhu, who also holds the tourism portfolio, has not made any announcement regarding the leasing of loss-making HPTDC hotels. However, as the Congress government has been laying stress on resource mobilisation, there is possibility that some loss-making HPTDC units could be leased in due course of time.

In November 2019, a controversy over proposed disinvestment in 14 HPTDC properties, including some profitmaking, had erupted but before the Global Investors Summit the government backed out saying that there was no such proposal. The move to promote tea garden tourism in Kangra was also dropped, as it would have been violative of the HP Tenancy and Land Ceiling Act.