Thamel to see first five-star hotel-commercial complex within two years

The face of Thamel, a backpackers’ hub, will change within the next two years, as the establishment of a five-star hotel and commercial complex on 14 ropanis (76,608 sq ft) of land is expected to increase the flow of high-end tourists in the area.

Thamel has always been of interest to foreign visitors. Many deem their stay in Nepal incomplete without walking down the alleys of this world famous destination, spotted with souvenir shops, restaurants and bars.

However, its image seems to be taking a beating lately due to the presence of shabby dance bars, infamous massage parlours and cheap hotels that sell rooms at as little as $5 per night.

Little wonder, Thamel is now known as a hangout place for low-end tourists.

But all that is going to change soon, as Chhaya Devi Complex Pvt Ltd is building a 14-storey hotel-cum-commercial-centre at Bhagwanbahal at a cost of Rs 3.5 billion, excluding land price.

The complex will have a five-star hotel with around 200 rooms, 250 retail shops, three movie theatres, seven restaurants and a parking area for 400 cars and 350 two-wheelers.

“We will be starting operation of the commercial complex within a year and will complete the hotel within the next two years,” Suhrid Ghimire, president of Continental Trading Enterprises and one of the project’s investors, told The Himalayan Times.

To make the hotel truly world-class, Chhaya Devi Complex has entered into an agreement with Aloft Hotels, a brand of the US-based Starwood Hotels and Resorts Worldwide, which is fully integrated owner, operator and franchisor of world renowned St Regis, The Luxury Collection, W, Westin, Le Méridien, Sheraton, Four Points by Sheraton and Element.

“We are happy that Aloft has agreed to manage the hotel as the brand itself stands for contemporary architecture and design, which will generate lots of interest among the trendy lot,” Ghimire said. “In that sense, Thamel will soon become equally desirable for high-end tourists and middle- and upper-middle income groups of the country.”

Promoted by renowned businessmen, including Prithvi Bahadur Pande, chairman of Nepal Investment Bank, Suman Pandey, a tourism

entrepreneur, and Nirmal Pradhan, a leading stock investor, among others, the sprawling complex will have 60 per cent free area.

The 40 per cent of the occupied area will have food court, gaming zone, discotheque, sauna, snooker house, lounge and bar, meeting and conference halls, banquet hall, art gallery and corporate offices. These areas will be connected by 10 elevators and 22 escalators.

“We have already sold around Rs 1.2 billion worth of space and area of another Rs one billion is up for grabs,” Ghimire said, adding, “Rumours about land ownership dispute at the project site are baseless.”

The project is being financed by a consortium of four banks and financial institutions led by Everest Bank Ltd.

source: the himalayan times,17 june 2014