The Goa tourism development corporation (GTDC) is finally waking up to market competition. It has planned to upgrade its residencies located at prime locations in the state and are also looking at building more residencies, but in a joint venture with a private party.

The GTDC's immediate plan involves upgradation of the 58-bedded Panaji Residency, located near the old secretariat building in the city. The hotel facing Mandovi River, though ideally located, has lost its charm amidst other hotels offering better facilities.

Cabral said GTDC will spend about 4-5 crore in redoing rooms at the Panaji residency. The tender for selecting a bidder will be floated shortly.

The construction activity at Panaji Residency will be taken up at the end of the season and preferably in April-May, though work at two rooms of the hotel will be taken up on a trial basis.

"We will get work done for two rooms on a trial basis first and then take up work of other rooms," he said.

While GTDC also plans to upgrade its other residencies, he said they will not be able to do it immediately for want of funds and is looking at private investment for development as well as building new properties.

"GTDC has properties in Anjuna and Benaulim. But since we do not have sufficient funds, we want to develop those properties as a joint venture with private partnership," he added.

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