Kathmandu. Surya Jyoti Life Insurance Company has signed an agreement to acquire 25% stake in Dhangadhi-based Club Chaulani Limited. The project will be the first five-star hotel of international standard in the Far-Western Province to be operated under the brand Hotel Holiday Inn Dhangadhi under the international hotel group IHG Hotels & Resorts.
President of Club Chaulani, Dr. Rajendra K.C. “We are excited to collaborate with IHG Hotels & Resorts in Dhangadhi. Dhangadhi is a rapidly developing city as the commercial and tourist gateway of western Nepal. There is a huge potential for branded hospitality service of international standard. We look forward to providing guests with a reliable and welcoming stay experience with IHG’s global experience and quality standards. ”
The hotel will have 115 guest rooms including 5 premium suites as per international standards. The major amenities will include a state-of-the-art casino in around 18,500 sq ft, a grand banquet hall seating up to 700 people, a rooftop swimming pool, a multi-cuisine restaurant, a fully equipped modern fitness center, meeting and conference rooms and exclusive private dining facilities.
Investors expect that the presence of international brand hotel will play an important role in the development of tourism sector in Dhangadhi by addressing the growing commercial and tourism demand in the area.
Given the long-term potential of Nepal’s tourism sector, the investment in this project has been made with the objective of providing long-term benefits, stable returns, and contributing to the development of tourism infrastructure in the Far-Western region. This partnership will not only strengthen SuryaJyoti Life Insurance’s investment but also contribute positively to the national economy by expanding quality tourism infrastructure in western Nepal,” explained Prakash Bikram Khatri, CEO of Surya Jyoti Life Insurance.
Surya Jyoti Life, Nepal’s first 9001-2015 i, SO certified, has a paid-up capital of Rs. 501 crores, Life Insurance Fund Rs. The company has a net worth of Rs 4,617 crore, investment of Rs 5,120 crore, net worth of Rs 618 crore, 107,000 agents, 36.30 lakh insurance policies and 176 branches across the country. The company also has invested Rs. 100,000 crore against 35 deadly diseases in Nepal. It is providing financial security of up to Rs 50 lakh.
