Sumargi Group Preparing to Operate 5 big Hotels with Investment of Rs 7 Billion

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Sumargi Group Preparing to Operate 5 big Hotels with Investment of Rs 7 Billion

September 7: Sumargi Group of Industries (Muktishree Pvt Ltd) is about to enter the hospitality business with aggressive investment. The company is planning to operate five big hotels in different parts of the country including the Kathmandu Valley, with an investment of around Rs 7 billion.

Taking the Covid-19 pandemic as an investment opportunity, the group is set to make the staggering investment in the hospitality sector all at a time. According to Sumargi Group, an apartment hotel is being constructed in Sundhara, Kathmandu. The company informed that the construction work of the apartment hotel in Sundhara has witnessed more than 80 percent physical progress.

Similarly, the company is preparing to operate a boutique hotel in Kathmandu. The construction of the boutique hotel will be started soon after determining the location. Likewise,  the group has started operation of a hotel in Tumlingtar of Sakhuwasabha targeting domestic tourists while the company is preparing to start operation of resorts in  Banepa and Dhulikhel of the Kavrepalanchok district.

Sumargi Group informed that the resort will be brought into operation in the area soon after finalizing the location. Meanwhile, the company is preparing to operate a boutique hotel in Sarangkot of Pokhara.

Arun Raj Sumargi, Director of Sumargi Group of Industries, informed that the company is making investment in the hospitality sector with the help of foreign investment, profit made by the company in various sectors, and loans taken from various banks and financial institutions.

According to him, the company's objective is to promote the hospitality sector of Nepal and increase employment opportunities.

Preparations are in full swing for the operation of the hotels targeting both internal and foreign tourists. The company will operate hotels of deluxe and boutique categories.

“Due to the pandemic, many people are forced to stay indoors. That is why we have decided to invest in the hospitality sector,” he said.

Sumargi Group is preparing to complete the construction work of the hotels by the time the pandemic subsides. 

Sumargi said that even though the idea of ​​investing in the hospitality sector is already there, there have been various obstacles in the way of bringing in foreign investment.





 

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