Large corporate organizations are increasingly investing in educational institutions of late. Just a month after Nepal Life Insurance Company announced its investment in Professional Educators Limited and Uniglobe Secondary School, Soaltee Enterprises Pvt Ltd has followed suit by investing in a college in the federal capital.
Soaltee Enterprises, the founding company of Soaltee Hotel Limited -- a five-decade-old pioneer in Nepal’s hospitality industry, is set to acquire shares in an educational institution specializing in hospitality services. Soaltee Enterprises, which has expanded its operations beyond Kathmandu, is purchasing a 35% stake in the Global Academy of Tourism and Hospitality Education Pvt Ltd (GATE College), according to officials from the affiliated company.
Soaltee Enterprises and GATE College signed a share purchase agreement on Tuesday. Sudarshan Chapagain, vice president of Soaltee Enterprises, and Khemraj Lakai, CEO and founder of GATE College, signed the memorandum of understanding on behalf of their respective organisations. Chapagain confirmed that Soaltee Enterprises will acquire 35% of the college's shares.
GATE College offers graduate-level programs and various training courses in hospitality services. Soaltee Enterprises, known for its brand expansion in Nepalgunj, Itahari, Nagarkot, and other locations outside Kathmandu, sees this investment as a strategic move.
"Expanding into the educational sector is a significant step for Soaltee Enterprises," said Chapagain. "We plan to design new courses and move forward with their implementation."
Chapagain also mentioned that students graduating from GATE College will have the opportunity to train and work at Soaltee Hotel properties. This initiative aims to retain hospitality management graduates within the country, addressing the issue of skilled manpower leaving Nepal after completing their 12th grade.
Lakai, the CEO of GATE College, explained that Soaltee was invited as an investor due to its long-standing presence in the hospitality industry and its ongoing expansion.
"This partnership with Soaltee Hotel will ensure that students have ample opportunities for practical training and employment," said Lakai. GATE College, which graduates around 500 students annually, will now operate under the name and brand of ‘Soaltee GATE College' following the agreement.
This collaboration is expected to significantly enhance higher education in hotel management, offering students exceptional learning experiences, advanced educational resources, and opportunities for personal and professional growth in the field.
In July, Nepal Life Insurance Company made headlines by acquiring a 35.32% stake in Professional Educators Limited with an investment of Rs 73.73 million. The company also invested Rs 600 million to acquire a 47.62% stake in Uniglobe Secondary School.
