BENGALURU: Hotels managed by state-run India Tourism Development Corp may soon be sold. A clear indication on this came from Finance Minister Arun Jaitley, who also said his government's divestment strategy will be balanced.

"Already the target of disinvestment this year is very high. It stands at around 69,000 crore of disinvestment and strategic asset sale. This even more than the complete disinvestment made by NDA-1 government's first tenure," he said at a press conference here.

"Apart from this, many ministries have approached me for disinvestment in their non-core sectors and we are looking at it. Our decision will be balanced and the process will be to divest or make a strategic sale as the case demands," he said.

"The major assets which are left now are the hotels. We have been approached by the ministries that own them to look at a possible disinvestment. The concerned secretaries and disinvestment secretary are reviewing the proposal."

The main holding arm for the government's interests in the hospitality and tourism trade are through the state-run India Tourism Development Corp. In the past, some major properties have been divested, including the Akbar and Lodhi hotels in the national capital.

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