GTDC seeks private investment for Britona Hotel project

Panaji: The Goa Tourism Development Corporation (GTDC) has decided to make a fresh attempt to outsource its property at Britona to a private player to develop a 3-star or higher city hotel to generate revenue. It offers 22,529sqm of land with a 100% floor area ratio (FAR) for up to 60 years to monetise the dilapidated structure and unused plot in Penha De Franca.
GTDC’s public-private partnership (PPP) plan requires an investor to redevelop, operate, and maintain the Britona land by building a hotel with a minimum of 15 rooms and a multi-cuisine restaurant for tourists.
This is the tourism body’s second attempt to bring in a private player to operate a hotel at Britona. A concession agreement inked in 2016 failed due to approval delays, property ownership issues, and a delay in finalising the coastal zone management plan.
GTDC officials are hopeful this time as the initial 30-year lease may be extended by another 30 years based on govt’s approval.
The 22,529sqm plot has a 1,984sqm structure where construction up to 15-metre height is permitted. GTDC will offer the Britona property via open bidding to the highest revenue-sharing bidder.
GTDC, which manages several hotels in Goa, decided to outsource properties like Miramar Residency, Old Goa Residency, Britona Residency, and Anjuna Residency over a decade ago under the PPP model. However, these attempts did not yield the desired outcome for govt.
In 2016, lease agreements were signed for four major properties for building starred hotels, but these projects were delayed due to pending statutory approvals.
The concessionaire must ensure 80% of hotel staff are of Goan origin, a GTDC official said.