Mysore/Mysuru: The company that wins the contract to manage Mysuru’s Lalitha Mahal Palace Hotel will be required to pay the State Government a guaranteed annual amount of Rs. 4 crore, along with an additional 10 percent over this sum, said Prashanth, Managing Director of Jungle Lodges and Resorts (JLR), Bengaluru.

Among the bidders, the company that offers more than the government’s stipulated minimum will secure the tender. JLR has been entrusted with the responsibility of overseeing the entire process, he added.

As the Palace is a heritage structure with traditional architectural elements, several revisions were made to the renovation-related tender conditions. These modifications, aimed at protecting the building’s character, caused delays even though the tender was first issued eight months ago. The final deadline for submitting applications is now Dec. 20.

Once bids are opened, the Government will follow required procedures before awarding the contract to the eligible bidder. As a result, officials said it is not possible to confirm that renovation will begin immediately after the deadline. The restoration will be undertaken without marring the Palace’s beauty and heritage.