Himachal Pradesh tourism corporation seeks ADB funds for hotel renovations

The Himachal Pradesh Tourism Development Corporation (HPTDC) is seeking funds from the Asian Development Bank to renovate its hotels. This comes after a high court ruling allowed HPTDC to continue operations despite financial challenges and mounting liabilities. HPTDC operates 56 hotels but has faced competition from private players and homestays. The corporation reported a turnover of ₹109 crore, the highest in its history, but still owes ₹35.13 crore to retired employees. A court had previously ordered the closure of 18 loss-making hotels, but this directive was stayed. The state government has formed a committee to improve HPTDC's financial situation, while HPTDC has implemented measures to recover outstanding dues.