Nepal’s First Five-Star Hotel ‘Annapurna’ Closed

December 22, 2020 | Investopaper

Nepal’s first five-star hotel ‘Hotel Annapurna’ at Durbar Marg will be completely closed for a year. Due to lack of foreign tourists during the COVID-19 period, the hotel was facing a hard time managing the expenses. As the management has decided to close the hotel, more than 360 employees will lose their jobe

Hotel Association of Nepal (HAN) president and hotel operator Sirjana Rana said “The income is almost zero. We decided to close it because we couldn’t afford it”. Annapurna Hotel was established in 1965. Rana and her husband Kapil SJB Rana have 85 percent shares in the hotel. Likewise, Nepal Trust owns 5 percent investment while Khetan Group possesses 2 percent share in the hotel. Hotel Annapurna, with 149 rooms, is spread in the 43.86 ropani area of ​​Durbar Marg.

Rana said that the hotel was closed and the staff was being managed by taking a loan from the bank. She informed that the hotel is being closed by giving all the facilities including salary, staff provident fund and other facilities as per the law.


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