Kathmandu. A five-star hotel is being built in Maharajganj, Kathmandu, with an investment of 3 billion rupees. Lalchan Group’s Hotel Lalchan Pvt Ltd is constructing a ‘Double Tree by Hilton’ hotel in Maharajgunj with an investment of Rs3.9 billion.
The company has constructed a hotel in Maharajganj with an area of 152,481 square feet. The hotel will have a capacity of 135 rooms, according to the company. The hotel will have the facilities of 9 suite rooms, 9 junior rooms and 177 standard rooms.
For hotel construction, the company has given a rating of 2.34 billion rupees for long-term loans. The company has maintained a 75:25 investment ratio for hotel construction.
The company is going to invest 2 billion 257 million rupees by taking loans from banks and financial institutions, while the hotel will be built by investing 752 million rupees through equity. So far, 320 million rupees have been invested for this purpose. Other facilities including food and beverage services, swimming pool, conference and banquet facilities, spa services will be available in the hotel.
The company, which was registered in 2018 and entered into a hotel construction contract in 2020, said that the construction will be completed in 4 years and it will take another two/three years for business operation stability. The company is planning to put the hotel into operation from July 2025.
Lalchan Group has been doing business in different fields for a long time. Sombahardur Lalchan is the president of the company. He is also an investor in Viva Agro Pvt Ltd and Beverly Hill Pvt Ltd.
The company has entered into a franchise in Nepal in 2020 by entering into a management agreement with Hilton Worldwide Management Limited. Hilton Worldwide Management is a worldwide hospitality company and has been providing medium to luxurious lodging facilities.
The company first started operating a hotel in 1925 from Texas, America. Currently, the company has 7,295 hotels operating in 123 countries. The company has been operating hotels under 22 different brands.
While expanding its business, the company has increased the facilities of hotel rooms by 36 percent since 2007 and has opened more than 1,200 hotels. During that period, there were businesses in 77 countries, and now it has expanded to 123 countries.