India’s international hotel chain, ITC’s Welcome franchise, is set to manage the five-star Hotel Annapurna, whose majority shares are owned by the Bhatbhateni Supermarket and Little Angels groups.
Annapurna Square Pvt. Ltd., the company established to operate the hotel, and ITC Hotels signed a management agreement to this effect on Thursday. ITC Hotels, renowned for its luxury hospitality, will take over operations after the reconstruction of the five-star hotel in its original location at Kathmandu’s Durbar Marg.
"The target is to reopen the hotel on 13th April 2028, following the completion of the building's reconstruction," said Min Bahadur Gurung, chairman of Annapurna Square Pvt. Ltd., in an interview with New Business Age. "ITC will take over the management as soon as the hotel begins operations."
The company stated that this collaboration would bring transformative changes to Nepal’s hospitality industry, as ITC will operate the hotel under its prestigious Welcome Hotel brand. This partnership aims to establish Hotel Annapurna as a key luxury destination. It will be the second hotel in Nepal managed by ITC, which also runs the Fortune Resort and Wellness Spa in Bhaktapur.
According to a press release by Annapurna Square, the hotel will feature 318 rooms, 30 serviced apartments, four conference venues, a shopping arcade, and an entertainment zone. The company aims to complete construction by March 2028. After this, ITC Hotels will take responsibility for daily operations, branding, improving guest experiences, and delivering world-class hospitality.
The serviced apartments are designed to accommodate long-term stay of foreign VIPs, explained Gurung. "Staying in serviced apartments will reduce their expenses compared to staying in a hotel," he said. The initial estimate for the total construction cost is Rs 8 billion.
Bhatbhateni Group holds the largest share in Annapurna Square, with additional shares held by Little Angels Group and Del Annapurna Pvt. Ltd.
