Nepal's Hotel Industry Faces Rs 25 Billion Loss Amid Protests

Nepal's hotel industry, a crucial pillar of its tourism-centered economy, has suffered losses exceeding Rs 25 billion due to nearly two dozen hotels being vandalized, looted, or set ablaze amid recent student-led anti-government demonstrations, as per a media report on Friday. Among the hardest hit is the Hilton Hotel in Kathmandu, incurring damages surpassing Rs 8 billion, according to the My Republica news portal, citing a statement by the Hotel Association Nepal (HAN). The HAN indicated that many of the impacted hotels are unable to resume operations without undertaking extensive repairs and reconstruction, putting over 2,000 jobs at risk. Additionally, the association urged the government to implement an economic relief package to aid in repair and reconstruction, emphasizing that reviving investor confidence is essential for tourism development and the country’s economic stability. The hospitality sector in the Himalayan nation is still in the process of recuperating from the pandemic's impact.

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