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Massive Investment in Hospitality Industry in Nepal

We can almost say this is kind of new beginning phase for tourism business in Nepal. Post massive earthquake in 2015, Nepal now blooms in every possible way with many of its sectors promoting tourism again. The fact that the hotel industry is one important factor in tourism business, the very sector was mercilessly struck by the same earthquake and then followed by unstable politics and blockades that led to the fall in hotel occupancy heavily however by 2016, hotel occupancy rose by unexpected percent. Gaining much popularity across the globe now, Nepal has witnessed many additional properties in the recent years and the properties being business of small and large hotels really escalating. The additions include places like: Pokhara, Chitwan, Butwal, Lumbini, Tansen. According to a source, a massive investment has been made in the hospitality sector since 2012 when tourist arrivals rose by 20 percent and the same source tells a survey entitled Economic Activities Report 2013-14 conducted by Nepal Rastra Bank showed that with the existing infrastructure, Nepal can currently accommodate 13.27 million tourists annually.

According to Hotel Association Nepal, currently there are a three, four and five star properties under construction that will add above 4,000 hotel rooms in Kathmandu Valley by 2018-19 and there have also been signed a management contracts with Nepali entrepreneurs to establish globally known hotel brands like Fairfield Marriott, Aloft and Sheraton among which Fairfield has already been in an operation. Definitely the people involved in these projects are visionary to see the potential of tourism in Nepal and with the rapid increase of the new properties all around; we definitely smell business competition here. But, with right kind of marketing, attractive infrastructure and warm hospitality, the business is here to continue and looks quite promising in the long run. As more new investments pour into hospitality sector, we are expectant of the good flow of tourists in the coming years too. This on the other hand will also improve business activities and economic growth in the country. And hiring professional manpower to serve customers by these properties means more employment opportunities. As per World Trade Organization, each tourist that visits Nepal is directly or indirectly linked to the job of at least twelve people. So, it will not be wrong statement to make that the hotel industry is such a big support of the tourism industry.

With the technology getting more advanced these days, people are looking for both smarter and reliable ways to at least have some general information before travelling and hotel is one of the most looked topics in an internet. People across the globe have now built up some strong trust with Tripadvisor for hotels, restaurants or anything important. Rating in Tripadvisor is mainly based on the hotel services, facilities and infrastructures. So, many new and also old properties are working on it to be on their visitors’ merit and eventually fall on the Tripadvisor’s good list for more recognition. According to a source posted on May 2, 2017, Nepal has secured the 5th place on the Best Places to travel in May by Cntraverler. The US-based popular media group in May has placed Nepal among the Top 7 places. With many positive contributions for the development including the UNESCO World heritages Sites under construction, we can surely await the positive changes and positive growth in the country.

Nepal

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