December 29, 2017 01:30 AM NPT
KATHMANDU, Dec 29: Chinese investors have registered 17 companies in Nepal in the first four months of Fiscal Year 2017/18 to operate hotels and restaurants in different parts of the country.
While 13 of these hotels will be opened in the Kathmandu Valley, three will be in Pokhara-Lekhnath Municipality of Kaski and one in Kavre district, according to the Department of Industry (DoI).
These hotels will add 611 new beds and create 375 new jobs.
According to the DoI, Tenzin and Tenzin Hospitality Pvt Ltd is investing Rs 123 million to open a hotel in Kathmandu. Similarly, Fushon Hotel Pvt Ltd, Chunla N Hotel Pvt Ltd, Wonder Lost Hotel & Restaurant Pvt Ltd, Quanmi N Hotel Pvt Ltd, Qianxi Hotel and Restaurant Pvt Ltd, Great Wall of China Hotel and Restaurant Pvt Ltd and Jiaoding Hotel Pvt Ltd are investing in range of Rs 15-25 million each to open hotel in the Kathmandu Valley.
Similarly, Quan Qi Hotel Ltd is investing Rs 25 million, and Golden Clouds Hotel and Restaurant Pvt Ltd and Lucky Inn Hotel and Restaurant Pvt Ltd are investing Rs 10 million each to operate hotel in Pokhara-Lekhnath Municipality.
Another Chinese company, Buddha Lotus Heart Hotel Pvt Ltd, is opening a 40-bed hotel in Kavre with an investment of Rs 49 million.
Data compiled by the DoI shows that a total of 63 companies have registered with the department to operate hotels and restaurants. Of them, only six companies will have cent percent local investment. Two of these projects are a large-scale hotel, and another other four are medium-scale hotels.
Remaining projects are either joint ventures between foreign and local companies or are have full foreign investment.