Srinagar, March 12, 2025: The Jammu and Kashmir government has announced plans to auction the iconic Centaur Hotel in Srinagar, aiming to generate an annual revenue of ₹44 crore. The move comes as part of the government’s ongoing efforts to revitalise the state’s tourism sector and boost its economic growth.
The Centaur Hotel, located on the picturesque banks of Dal Lake, has long been a prominent landmark in Srinagar. However, after years of underutilization and financial strain, the government has decided to auction the property to private investors to ensure its efficient management and operations.
The auction is expected to attract significant interest from both national and international bidders, given the hotel’s prime location and the increasing demand for premium accommodations in the region. Authorities are hopeful that the auction will not only bring in substantial revenue but also enhance the overall tourism experience in the Kashmir Valley.
The ₹44 crore annual revenue target stems from the potential operational income that a well-managed hotel can generate. With the influx of domestic and international tourists, especially during the summer season, the government anticipates that the Centaur Hotel, under new management, will play a key role in revitalizing the local hospitality sector.
This move also aligns with the government’s broader vision to promote private investment and create sustainable job opportunities in the region. The auction process will be conducted in a transparent manner, with clear guidelines to ensure fairness and maximize returns for the state.
Officials have stated that the auction will be open to all interested parties, with the bidding process expected to begin in the coming weeks. The final terms and conditions of the auction, along with the reserve price, are likely to be disclosed shortly.
The auction of the Centaur Hotel comes at a time when the Jammu and Kashmir government is making strides to improve infrastructure and services for the tourism sector. With the hotel expected to be a key player in attracting high-end tourists, the government hopes to further strengthen the region’s position as a premier tourist destination.
For many years, the Centaur Hotel has been a part of Srinagar’s landscape, and this auction marks the beginning of a new chapter for both the property and the city’s tourism industry. The successful bidder will not only benefit from the historic charm of the hotel but also from its proximity to some of the most stunning tourist attractions in the region.
This development marks a significant step towards revitalizing the local economy and further integrating Srinagar into the larger national and international tourism networks.