Siprabhya Hotels and Resorts to start construction with an investment of 5.4 billion

4th May, 2018 | Tourism Mail Crew

KATHMANDU, May 04: Operator of Hotel Soaltee, Prabhakar Shumsher Rana, is building a new 5-star hotel at Ravi Bhawan, Kathmandu. Rana is bringing into operation Siprabhya Hotels and Resorts Pvt. Ltd. at an investment or Rs. 5 billion and 417 million. The hotel will have 160 rooms.

Rana is opening the hotel with a large investment in view of the rapidly increasing number of tourists in Nepal. According to the Department of Industry, the project has a fixed capital of 5 billion 217 million rupees and a working capital of 200 million rupees. The hotel will provide employment to 250 workers.

The hotel has already been registered at the registrar office as well as with the Department of Industry. After receiving the certificate of Environment Impact Assessement (EIA) from the Department of Tourism, the project has moved on to the construction phase.

The hotel is spread over an area of 253 square feet. The investors in the hotel include Prabhakar Shumsher Rana, Siddhartha Sumsher Rana, and Nilima Rana.