Kathmandu: Hotel Le Himalaya, currently operating as a three-star property under IME Hospitality, is set for a major upgrade into a five-star hotel with a planned capacity of 120 rooms. The hotel is being run on lease by IME Hospitality, a subsidiary of IME Group.
The property is owned by Bhim Bahadur Roka, who revealed plans to expand the structure by utilizing an additional 10 ropani of land behind the hotel to develop it into a full-fledged five-star facility.
Currently operating as Hotel Le Himalaya by IME Hospitality, the property was acquired by Roka in 2017. It was previously known as Hotel Gangjong before being rebranded. Best Resort Nepal has also managed the hotel in the past, and since December 2024, it has been operating under its current name. At present, the hotel has 50 rooms.
According to CARE Ratings, the upgrade project is estimated to cost Rs 3.32 billion. Of this, Rs 1.60 billion will be financed through debt and Rs 1.72 billion through equity. So far, Rs 220 million in loans and Rs 210 million in equity have been invested, representing about 13 percent of the total project cost.
CARE has assigned a double B-minus rating to the proposed loan of Rs 1.60 billion for the project, marking a fresh rating for the development.
Located in Lazimpat, a prime area of Kathmandu, the hotel enjoys proximity to key hubs such as Thamel (about 1 km away) and Tribhuvan International Airport (around 5 km). The presence of embassies and corporate offices nearby is expected to ensure strong customer flow.
The government’s declaration of 2023–2033 as the “Tourism Decade” and the allocation of Rs 13.28 billion for tourism in the current fiscal year are expected to provide long-term support to the hospitality sector.
The upgraded hotel will feature a range of premium amenities, including a casino, fitness centre, banquet hall, auditorium, conference facilities, swimming pool, spa, and serviced apartments.
CARE notes that the project’s future rating will depend on timely completion within budget and the hotel’s operational performance after launch.
Roka, who has experience in hospitality, investment, and manpower sectors, is currently associated with Yakka Investment, Gorkha Associates, and Villa Seventy Two.
According to CARE, part of the project land is currently under investors’ ownership and is in the process of being transferred to the company. Additional land acquisition is also underway to support the expansion.
Roka also said discussions are ongoing with Courtyard by Marriott for potential management of the hotel once it is upgraded. He stated that the five-star property will be developed across a total of 12 ropani of land and will include facilities such as a casino and apartments, with a target to complete construction as soon as possible.
IME Hospitality, under the leadership of FNCCI President Chandra Dhakal, currently operates multiple properties, including Chandragiri Resort in Kathmandu, Ila Resort in Baglung, Maulakalika, and Lakeside Retreat in Pokhara.
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