ITPO will float requests for proposals (RFPs) for the project to rope in private companies from the hospitality industry to develop the hotel, which will be a private sector enterprise ITPO will monetise the land, while the developer would be able to run the facility for a lease period of 99 years.
The initial redevelopment plan for Pragati Maidan in 2019 envisaged a state-of-the-art private hotel, built over a 3.7-acre site at the complex, but the idea failed to materialise following the onset of Covid-19 pandemic in 2020, officials said.
A senior ITPO official said a hotel within the Pragati Maidan complex will help minimise traffic disruptions and logistic challenges faced during largescale events such as the G20 Summit in the future.
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