CG Holdings investing in four hotels in the next five years
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Chaudhary Group (CG) Holdings has announced its formal acquisition of Tigerland Safari Resort and Lodge in Chitwan.
This marks the beginning of CG Holdings’ investment in the hospitality sector. Further plans to develop four hotels in the next five years were also announced by the company.
Arun Chaudhary, Chairman and Managing Director of CG Holdings stated that Nepal’s tourism potential is huge and that he expects good years for the sector.
CG Holdings plans to invest Rs5 billion in four proposed hotel infrastructure over the next five years. According to Chaudhary, a 200-room five-star “Holiday Inn” property will be built in Jhamsikhel, Lalitpur, which will be completed by 2020. Additionally, a 125-room business hotel will be built in Tripureshwor and a “Wellness Retreat” with 50 cottages is planned at Budhanilkantha in Kathmandu. The company also plans to construct an 80-room luxury five-star hotel in Sarangkot, Pokhara.
CG Hotels and Resorts , part of the diversified conglomerate Chaudhary Group has recently opened Meghauli Serai Jungle Lodge in Chitwan. It also bought a majority stake in Summit Hotel last year, which will now be expanded to 200 rooms from the current 73.