History of Iran Tourism Development Company
As publicly issued in the Official Gazette number 6783 published on October 6, 1968, the Iranian Inns Development Corporation was established in 1968 and its initial shareholders consisted of Tourism Facilities Joint Stock Company, Intercontinental Joint Stock and the Swiss EWI Company.
After the victory of the Islamic Revolution, the American company’s shares were transferred to the Iranian shareholders. The Corporation adopted some changes in its article of incorporation (purpose of company) in 2004; whereas, the name of the Company was changed to Iran Tourism Development Company as well.
Currently, 73 percent of the Company’s share belong to the government and 27 percent belong to the private sector. The present members of the board of directors consists of the Minister of Economy and Finance, Vice President and President of Cultural Heritage, Handicrafts and Tourism Organization, Minister of Justice; and a representative from the private sector.
The field of activities of this Corporation, in addition to utilizing a number of hotels and hostels, consists of developing tourism infrastructure in the country.
- To become the pioneer company in utilizing accommodation, recreation and tourism hotels and hostels
- To serve as a superior company in developing infrastructures of tourism industry
- To be a model company in realizing the goal of absorbing 20 million tourists in country’s perspective
- Access to sustainable development and value creation in tourism with emphasis on the principles of economic endogenous and outlook approach
- Design, consultation, development and promotion of tourism, recreation and accommodation spots and hostels across the country based on modern standards and technologies and through adopting the view on improving the quality and achieving the profitability growth
- Introducing the capacities, promoting and directing investments and improving the capabilities of tourism activists by benefitting from the advantages, resources and rich experiences of Iran Tourism Development Corporation.