SANGAM PRASAIN
KATHMANDU, FEB 09 -
The Soaltee and the Tara Gaon Regency hotels have posted profits of Rs 74.59 million and Rs 97.1 million respectively for the second quarter (July 17-Dec. 31) of the current fiscal year.
The first quarter profit of the Soaltee amounted to Rs 28.68 million profits while the Tara Gaon earned Rs 18.81 million. The two five-star properties saw their incomes rise with improved tourist arrivals during the period.
According to an analysis report released by the management of the Soaltee, tourist arrivals by air during the period July-December 2010 increased by 19 percent against 16 percent in the same period previously.
“Considering the increased tourist arrivals since the beginning of 2011 and the projected rise for the whole year, the hotel plans to strengthen its various business segments and market promotion,” the report said.
Hoteliers said the industry was looking for an event to boost their occupancy level. For the last two years, the average hotel occupancy stood at around 70-75 percent, and the Nepal Tourism Year campaign is expected to push up occupancy to more than 80 percent.
The Soaltee has refurbished 130 rooms in the Princep Wing. It is replacing the TVs in all its rooms with 42 inch-LCD TVs. According to the hotel, it has planned to spend Rs 750 million during 2010-12 on infrastructure expansion and upgradation.
Similarly, the hotel is planning to strengthen and attract meetings, incentives, conventions and exhibitions (MICE) tourism.
The Tara Gaon’s analysis report said its occupancy has increased to 62 percent in the second quarter of the current fiscal year against 51 percent in the same period last year. The increased revenue has helped the Tara Gaon to offset its losses of the last fiscal year. With the Q2 profit, the hotel’s cumulative loss has dropped from Rs 961.46 million to Rs 864.32 million.
Tara Gaon aims to push up its occupancy to 65 percent in the current fiscal year. The hotel has targeted earning a profit of Rs 360 million.
It plans to offer a “special rate” to attract customers during the off season. Non-occurrence of strikes and bandas, which had badly hurt the hospitality sector in the past, have helped to boost revenue. The hotel has targeted MICE tourism to increase business in the days ahead.
According to the government’s statistics, arrivals by air in July, August and September amounted to 29,338, 34,415 and 41,331 travellers respectively. Arrivals in October, November and December amounted 62,712, 48,331 and 36,323 respectively.
