The Bihar State Tourism Development Corporation (BSTDC) has floated a tender for the appointment of a Transaction Advisor to oversee the development of a 10-acre land parcel in Rajgir, located in Nalanda district. The ambitious plan includes the construction of a five-star hotel on approximately five acres and a state-of-the-art wellness centre on the remaining five acres. This initiative is part of a broader strategy to transform Rajgir into a premier high-end tourism destination catering to both domestic and international visitors.
What is a Transaction Advisor and Why Is One Needed?
A Transaction Advisor is typically a specialized consultancy or firm appointed to assist governments in the design, structuring, and execution of large-scale infrastructure projects especially those involving private sector participation. In this case, the advisor will conduct technical and financial feasibility studies, prepare bid documents, develop financial and revenue models, and manage the selection process for private developers and operators.
Their role is crucial in ensuring the project is financially viable, legally sound, and attractive to investors under a Public-Private Partnership (PPP) model. The advisor will also help craft contractual frameworks that ensure fair risk allocation, long-term sustainability, and transparency.
Why Rajgir Needs a Five-Star Hotel and Wellness Centre
Rajgir’s selection is strategic. The town holds immense religious, historical, and natural importance, being a major site for Buddhist, Jain, and Hindu pilgrims. Surrounded by scenic hills, forests, and hot springs, Rajgir provides an ideal setting for wellness tourism and spiritual retreats. In the post-pandemic world, the demand for such peaceful, holistic experiences has surged, making Rajgir a natural fit for this type of development.
Between January and April, Rajgir consistently attracted a notable share of foreign tourists visiting Bihar. In February alone, it accounted for nearly 24.5% of all foreign tourist arrivals in the state. Even as overall foreign tourism declined by April, Rajgir retained a strong 43.6% share. Although domestic tourist numbers fluctuated, Rajgir still maintained a solid presence with over 3 lakh visitors in January.
Upcoming Infrastructure Projects Strengthen Rajgir’s Tourism Potential
The proposed five-star hotel and wellness center project comes at a time when Rajgir is witnessing a surge in infrastructure development aimed at boosting tourism. One of the flagship initiatives is the Rajgir International Cricket Stadium and Sports Complex, which is set to host major national and international sporting events. Complementing this are popular attractions such as the Rajgir Glass Skywalk, the Nature Safari, and the recently modernized Rajgir Ropeway all of which are expected to significantly increase tourist footfall in the historic town..
By appointing a Transaction Advisor through a transparent tender process, the Bihar government is taking a significant step toward attracting private investment and professional expertise. The advisor will help steer this landmark project from conception to contract, ensuring it meets global standards while aligning with Bihar’s vision of sustainable tourism-led growth.
