Targets Rs 100 Crore Turnover
ITDC Ashok Sees Break-Even By March ‘03

Jyoti Koul - New Delhi

Losses are the saga of the past, profit is the new theme for ITDC’s prime property Ashok. Undeterred by the confusion over disinvestment of the hotel, the corporation is going all out to turnaround the loss making property this year itself. In the first six months of the current fiscal, the hotel reported a turnover of Rs 18 crore with expectations that by December 2002 the turnover would touch Rs 33 crore. This would make the hotel profitable in the current year itself.

The hotel has recorded over 66 per cent occupancy in the recent lean months. In the month of October alone, it has managed a sale of Rs 8.5 crore which is the highest sale in the history of ITDC. The hotel has set itself an ambitious revenue target of Rs 100 crore by March 2003. All this according to chairman and managing director, Ashwani Lohani is the result of sheer hard work. “Even though it was viewed as a crucial year, we have managed good business. We are confident that we will achieve the set targets with ease. Since we revamped the property adding lot of excitement in terms of new restaurants, pubs and other exciting activities, it has resulted in sufficient revenue and generated a lot of response. Earlier, Ashok was viewed as a typical government property that lacked professionalism and did not offer much to the guests. But the whole concept has changed now. Ashok is being looked at with lot of awe.”

However, Lohani did not reveal much about his marketing strategy. “We have also become aggressive as far as marketing is concerned and have launched advertisement and promotional schemes to highlight the property. There are many plans in the pipeline which will be unveiled gradually,” he said quizzically.

Significantly, the hotel revived Ashok theatre in March this year after a gap of 20 years and formed the art and culture advisory committee to keep it abuzz with the activity and promote art and culture. The hotel also opened a new Korean restaurant Kumgang, besides awarding tenders for Kashmir Club, SSTEEL Bar, restaurants Sagar Ratna, Bar-e-kebab, and a discotheque. While laying an equal emphasis on the skilled manpower, it has appointed a young team of executives on contract basis to bring in efficiency and professionalism in the functioning of the hotel.