Kathmandu: The cost of Pokhara’s tourist city-based Golden Hotel has increased by 30 percent. The hotel’s expenditure has significantly exceeded the initially estimated cost.
Initially, the cost of the hotel was estimated at Rs 1.32 billion. However, it has now risen to Rs 1.71 billion.
The company is constructing the hotel in Pokhara under the “Holiday Inn Express” brand. The hotel has signed a management agreement with MS Intercontinental Hotels Group, which operates three-star Holiday Inn Express hotels worldwide.
Having signed a management contract with the international brand, the hotel is preparing to operate with 96 rooms in Pokhara.
The company is planning to bring the hotel into operation by March next year. Initially, the company had planned to launch the hotel by June 2025.
Along with the increased cost, the company has also raised its loan. The company had initially secured a rating of Rs 9.9 billion for long-term loans. Now, the company has revised it to Rs 11 billion for long-term loans.
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