The hotel is known for its picturesque location on the banks of Dal Lake in Srinagar. Credit: ImagesofIndia via Shutterstock.com.

India’s Jammu and Kashmir Tourism Development Corporation (JKTDC) has opened the bidding process for the iconic Centaur Lake View Hotel, inviting national and international investors to take part.  

Known for its picturesque location on the banks of Dal Lake in Srinagar, the hotel is being offered on a public-private partnership (PPP) model, specifically on a design, build, finance, operate, and transfer (DBFOT) basis. 

The estimated project cost for the hotel’s development stands at Rs2.12bn ($26m).  

Since its establishment in 1982, the Centaur Lake View Hotel has been a significant draw for tourists, both domestic and international, visiting the Kashmir region.  

The hotel’s strategic location and scenic beauty make it a prestigious property within the hospitality sector, stated JKTDC. 

See Also:

For the bidding process, JKTDC has taken an online single-stage three-part e-forward auction method.  

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The bid notice reads: “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).”  

Prospective bidders are required to submit their proposals by 29 January, with the final bid due date scheduled for 28 February.  

This initiative is part of a broader effort by the J&K government, which began the process of taking over the hotel from the Hotel Corporation of India in 2022. 

In June 1979, the J&K Government agreed to lease out 13 acres of land in Cheshmashahi, Srinagar, to HCI for 90 years. 

The Centaur Lake View Hotel is also a favoured accommodation for official delegates hosted by the state government from various states and countries throughout the year, enhancing its value as a business opportunity for investors.