J&K Government invites int’l bids for outsourcing Centaur Lake View Hotel

Srinagar, Jan 6: In a significant development, the Jammu and Kashmir Tourism Development Corporation (JKTDC) has opened the doors to international and national investors by inviting bids for the outsourcing of the iconic Centaur Lake View Hotel.

The hotel, situated at the prime location of Cheshmashahi on the banks of Dal Lake, is a prized property for its scenic surroundings.

The bid notice issued by JKTDC outlines the intention to outsource the development, finance, operation, and maintenance, along with the transfer of Centaur Lake View Hotel in Srinagar. The mode of partnership is specified as Public Private Partnership on a DBFOT (Design, Built, Finance, Operate, and Transfer) basis. The estimated project cost is Rs 212.5 crore.

"Requests for proposals are invited from reputed national or international entities for undertaking the development, finance, operation, and maintenance, and transfer of Centaur Lake View Hotel, Srinagar for a concession period of 60 years (including construction period)," reads the bid notice.

JKTDC has adopted an online single-stage three-part e-forward auction process accessible at www.jktenders.gov.in for the selection of the bidder for the project. The last date for submission of bids is January 29, with the bid due date set for February 28.

The move to outsource the Centaur Lake View Hotel comes after the J&K government initiated the process for the takeover of the hotel from the Hotel Corporation of India in 2022.

Faz Lul Haseeb, the then additional deputy commissioner Srinagar, was appointed as the estates officer to facilitate the takeover, acting under the powers conferred by The Jammu and Kashmir Public Premises (Eviction of Unauthorized Occupants) Act, 1988.

"On June 25, 1979, the J&K Government, vide Cabinet decision No.237, agreed to lease out 13 acres of land in the high-profile area of Cheshmashahi Srinagar on the Dal Lake to HCI for 90 years. Based on the cabinet decision, an agreement was executed on March 10, 1982, between the state Government and HCI," a senior tourism department official said.

Established in 1982, the Centaur Lake View Hotel, located adjacent to Sher-e-Kashmir International Convention Centre in Srinagar, has been a major attraction for domestic and foreign tourists visiting Kashmir.

The hotel, known for its scenic surroundings, is often the preferred choice for official delegates received by the State Government from different states and abroad throughout the year.