November 14: Another new international chain brand, Hyatt Place, is all set to start its operation in Kathmandu on November 15. Hyatt Place Kathmandu, located in Soltimode, Kathmandu, has been set up with the investment of Golyan Group, which has been diversifying its business.

The five-star hotel was officially inaugurated on Saturday. The hotel was built with an investment of Rs 5 billion.

Pawan Golyan, chairman of the group, said that the hotel has started its operation as the Covid-19 cases have been declining and tourists are also visiting Nepal. The government opened Nepal for tourists some time ago, and many tourists visited Nepal in October. The international chain brand hotel has come into operation at a time when businessmen are expect Nepal's tourism sector to wait till 2025 AD to reach the pre-Covid-19 state.

"We have been delaying the operation of the hotel for two years. It has been almost six years since the construction of the hotel started. The construction has been delayed for two years due to coronavirus," Golyan said. 

Even though it is a chain brand, and is targeted for foreign tourists, we will give equal priority to the locals, he said.

Although in the initial phase the cost of the hotel project was estimated to be Rs 4 billion, the cost increased due to the delay of two years, said Golyan. The hotel, which will be open from Monday, will be of five-star standard, and the hotel has applied with the Department of Tourism to receive the star sign. The 14-story hotel has 153 rooms, a restaurant, banquet, spa, fitness center, swimming pool, and meeting hall.