KATHMANDU, Jan 13: Kathmandu-based Varnabas Museum Hotel has passed a special proposal during its first Annual General Meeting (AGM) to initiate an Initial Public Offering (IPO).
The company highlighted a strong potential of the hotel sector for future IPO prospects, drawing comparisons to other successful projects.
“Nepali investors are increasingly drawn to tangible assets like hydropower and green initiatives. Varnabas Museum Hotel, Nepal’s only museum hotel, blends cultural heritage with luxury, making it a highly attractive investment opportunity,” the company said in a statement, outlining the rationale for issuing the IPO.
Climber Mingma David Sherpa inaugurates Varnabas Museum Hotel
The statement added that this five-star boutique luxury property, situated in the heart of Kathmandu with a world-class infrastructure, fully adheres to the urban development standards and the hotel maintains a setback of four meters from the river on its southern side
“Before its construction, the project obtained IEE approval and four-boundary clearance,” reads the statement.
Referring to earlier allegations of encroachment, the company clarified that government inspections confirmed a setback of 5.5 to 6.75 meters. Additionally, the project contributed to the local community by reconstructing school buildings and nearby structures during its development phase, the hotel added. “No public roads or areas were encroached upon,” the press statement emphasized.
The statement claimed that the Varnabas Museum Hotel is a one-of-its-kind establishment that encapsulates the spirit of Nepal through its location, architecture, and cultural representation. With panoramic views of Mount Everest, Lhotse, and Nuptse, the statement said that the hotel offers unique facilities such as the South Col Bar, Khumbu Valley, and the Gokyo Lake swimming pool.
“Its design celebrates Nepal’s geographic and cultural diversity, with floors themed as Himal (mountains), Pahad (hills), and Terai (plains), symbolizing Sherpa culture, Gorkha bravery, and Tharu artistry. Rooms are named after villages across Nepal’s diverse regions, further reinforcing its cultural essence.”
Moreover, the hotel regularly hosts climate dialogue programs at the South Col, fostering critical conversations on environmental issues, the statement added.
