The groundbreaking ceremony for the redevelopment of Annapurna Hotel was held on Monday, November 18.
Businessman Min Bahadur Gururng, Chairman of Annapurna Square Pvt. Ltd.--the company established to operate the hotel, performed the rituals according to the Hindu tradition.
The majority shares of the luxury facility are owned by the Bhatbhateni Supermarket and Little Angels groups. Gurung is the owner of Bhatbhateni Supermarket chain.
Established in 1965, Annapurna is one of Nepal’s oldest five-star hotels located in Durbar Marg, Kathmandu. However, the hotel has remained closed since late 2020 following the impact of Covid-19 on the tourism sector.
It is set to be redeveloped into a 25-story modern facility. The initial estimated cost for the project is Rs 8 billion.
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The new facility is scheduled to reopen in April 2028, under the management of India’s international hotel chain, ITC’s Welcome franchise. Last month, Annapurna Square Pvt. Ltd. and ITC Hotels signed the agreement to this effect.
Besides daily operations, the ITC Hotels will also take responsibility for branding, improving guest experiences, and delivering world-class hospitality.
The collaboration is expected to bring transformative changes to Nepal’s hospitality industry. It will be the second hotel in Nepal managed by ITC, which also runs the Fortune Resort and Wellness Spa in Bhaktapur.
Annapurna Square said in a statement last month that the hotel would feature 318 rooms, 30 serviced apartments, four conference venues, a shopping arcade, and an entertainment zone.
The serviced apartments would be designed to accommodate long-term stay of foreign VIPs, Gurung told NBA last month.
