Kathmandu: The Gen-Z movement has caused damage to 30 hotels across Nepal, with preliminary estimates suggesting that around 2,200 to 2,500 workers have lost their jobs.
According to initial findings of a study commissioned by the Nepal Tourism Board, hotels both inside and outside Kathmandu have suffered damages ranging from minor to severe. Data collection has begun on losses sustained by establishments such as the five-star deluxe Hilton Hotel in Kathmandu, the Hyatt Regency, Banarbas in Baluwatar, and various other hotels across the country.
The unrest has not only damaged hotel properties but also sent a negative message to the tourism sector, as tourists staying in those hotels were left shaken by the incidents. Both the Board and private sector stakeholders are working to counter this negative perception.
Deepak Raj Joshi, Chief Executive Officer of the Nepal Tourism Board, stated that the Board is coordinating with the private sector to assess damages to tourism infrastructure and the wider negative impact of the protests.
The study shows that the greatest damage was inflicted on the five-star Hilton Hotel. Because of the losses there, banks and financial institutions have grown increasingly concerned about their investments. Hilton alone has borrowed over 5 billion rupees from various banks and financial institutions.
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