Hyatt Regency to Remain Closed For a Year For Post-Damage Reconstruction

Taragaon Regency Hotels Ltd, the operator of the five-star Hyatt Regency Kathmandu, has said the hotel will resume operations after reconstruction but the process will take at least one year.

In a statement issued on Sunday, Executive Director Suresh Lal Shrestha said the hotel suffered extensive damage during the recent Gen G movement. He expressed gratitude to Prime Minister Sushila Karki and Finance Minister Rameshore Prasad Khanal for assuring government support in the hotel’s rebuilding efforts.

The statement mentioned that assessments of the damages sustained during the protests on September 8 and 9 are underway. The hotel aims to reopen after reconstruction with a renewed commitment to enhance Nepal’s prestige in the tourism sector.

“The vandalism, looting, and arson during the protests caused severe damage to guest rooms, offices, reception, lobby, restaurants, banquet halls, and other structural parts of the hotel. The property has remained completely closed since then,” the statement read.

The management added that the hotel would undergo upgrading and reconstruction before reopening with expanded and improved facilities. “It will take at least one year to complete the restoration,” the statement said.

Hyatt Regency pledged to continue contributing to the country’s economic growth by increasing government revenue and strengthening Nepal’s position in the global tourism market as a flagship hotel.

“The hotel has witnessed Nepal’s major political and social transformations over the past two and a half decades — from the armed conflict and peace process to constitution drafting, the 2015 earthquake, and the COVID-19 pandemic. Throughout these challenges, we have provided employment to thousands and played a key role in promoting tourism and supporting the national economy,” the statement further noted.

The hotel, which has significantly contributed to Nepal’s economy through tourism, has received multiple government recognitions. It has been honored seven times as the highest income tax payer in the tourism sector and twice for generating the highest amount of foreign currency earnings.