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Luxury hotels in Nepal in dire straits

Luxury hotels in Nepal in dire straits

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Nepal’s hotel industry recorded its highest ever losses in the last fiscal year ending in July.

 

Travel restrictions and the economic downturn caused by the Covid-19 pandemic have taken a heavy toll on luxury hotels in Nepal, decimating their revenues and profits. The Nepalese hotel industry is still struggling to recover from these losses.

 

The country’s posh hotels have suffered heavy financial losses in the last fiscal year. To make matters worse, based on the current recovery scenario which is mainly based on tourist arrival figures, the industry may take another two years or more to return to pre-pandemic levels.

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Featured photo : © Radisson

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