Chief Minister of Jharkhand, Mr. Hemant Soren on Thursday, 25th June 2020, held a meeting at the state secretariat at Project Bhavan, where he asked the senior officials to initiate action to acquire the Ranchi Ashok Bihar Hotel located near Mecon office in Doranda.
The hotel was established in the year 1988 when Ranchi was a part of Bihar. It is a joint venture between the Indian Tourism Development Corporation (ITDC) and Bihar Tourism.
ITDC had 51% of stake in the hotel whereas Bihar Tourism had the remaining 49% before Jharkhand was formed.
After Jharkhand was formed in November 2000, the new state was given 12.5% of stake as the land on which the hotel was standing belonged to it. However, in 2018 the hotel stopped its operation and since then it had been lying idle.
In order to completely take over the hotel, the Jharkhand government will have to buy the remaining 87.5% stake i.e 51% from ITDC and 36.5% from Bihar Tourism. The valuation is expected to be 15 to 22 crore.
The property has 30 rooms, 2 banquet halls, and lawns. Due to its prime location, the hotel has a good chance of attracting guests if operated properly and that is the reason, CM is keen on taking over it.