Soaltee, Tara Gaon gain

SANGAM PRASAIN
KATHMANDU, NOV 12 -
The Soaltee and the Tara Gaon Regency hotels have posted profits of Rs 28.68 million and Rs 18.81 million respectively for the first quarter (July-September) of the current fiscal year. The five-star properties saw their incomes rise with tourist arrivals swelling during the period even though it is considered to be a non-tourist season.

The increased revenue has helped the Tara Gaon to offset its losses of the last fiscal year to some extent. The hotel was in the red by Rs 5.53 million in Q1 of the last fiscal year.

According to the analysis report released by the management of the Tara Gaon, improved tourist movement from July to September pushed up its occupancy to 57 percent from 36 percent in the same period in the last fiscal year.

“Hence, the hotel was able to make a good profit compared to the business it had in past years,” the report said. The hotel has targeted increasing the occupancy rate to 60 percent and earn a profit of Rs 360 million at the end of the current

fiscal year.

The hotel plans to offer a “special rate” to attract customers during the off-season. Meanwhile, the Soaltee’s profit increased 27 percent to Rs 28.68 million in Q1 from Rs 19.40 million in the same period in the last fiscal year.

According to the Soaltee’s analysis report, a 23 percent growth in tourist movement by air from July to September and non-occurrence of strikes and bandas, which have badly hurt the hospitality sector in the past, have helped to boost revenue. The hotel has targeted MICE tourism to increase its business in the days ahead.

Although July-September is considered to be a lean season, inbound tourism during the period has been rising steadily of late. According to the government’s statistics, arrivals by air in July amounted 29,338, up 26.09 percent from last year. Similarly, arrivals in August and September were up 24.30 and 20.60 percent to 34,415 and 41,331 respectively.