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.
Persian
