By Karuna Thapa
Kathmandu, April 18
Hyatt Palace, a part of the Golyan Group, will issue stock to the general public. The hotel plans to offer 167.4 million rupees worth of stock.
The promoter of Hyatt Palace ”City Hotel Limited” has requested approval to issue shares from the Securities Board of Nepal (SEBON). The hotel’s sales manager is Global IME Capital.
The seven founders have invested Rs 938 million as of July 15, 2020. After the shares are now being issued by the hotel, the paid-up capital will reach Rs. 1 billion 100 million on this basis.
The public is expected to possess 15% of the stock.
The Hyatt Palace Hotel opened its doors barely a year ago. This five-star hotel in Soltimod,
Kathmandu, features 153 rooms. The hotel’s overall cost is Rs. 4,396 million. Total investment of Rs. 3 billion 569 million as of February 25, 2021.
During this time, the hotel took out a loan of Rs 2.84 billion. This sum will be used to pay for the accommodation.
The hotel was scheduled to open in August of 2021. Due to various delays in its operation, the cost of the hotel, which is anticipated to be finished at a cost of Rs 3.14 billion, has increased.
According to information from June 21, the hotel’s manager is Shakti Kumar Golyan.
