Imperative Hospitality Private Ltd has won the bid for the Asian International Hotel on Thursday in an e-auction conducted by the New Delhi Municipal Council (NDMC).
The successful bidder will now have to pay 39.50 per cent of the GTO or ₹1.19 crore per annum whichever is higher, an official statement said.
The 38-room hotel on 1, Janpath Lane, will be given to Imperative Hospitality for 33 years.
Byke Hospitality Ltd, Imperative Hospitality Pvt Ltd and Indian Hotels Company Ltd were the three technically qualified bidders.
The forward e-auction started at 36 per cent of the GTO and concluded at 39.50 per cent of the GTO.
The council had kept a minimum guarantee fee of ₹1.19 crore per annum or 17.25 per cent of GTO, whichever is higher.