Kathmandu: The Hotel Association of Nepal (HAN) has warned to close the business saying that their demands have not been addressed yet.
Even though the borrower is responsible for paying the principal and interest of the loan, in the period of almost 3 years of the covid epidemic, the health protocol, lockdown and other control policy rules have been adopted by the government itself, and the hotel business has fallen to zero due to the direct impact of the epidemic, without having any concern with the government’s financial and monetary policy rules.
The association is of the view that Nepal’s hotel sector is on the verge of decline due to being deprived of the arrangements and treatment provided to other industries.
At present, hotels are operating at a loss due to the fact that there is no income to cover current expenses even though they are operating, HAN stated.
The association stated that it is extremely regrettable that the Nepal government has not even recognized the Nepali hotel sector as an industry, which has already been invested more than the national annual budget, as the supply of new hotels is more than the demand due to the market entry of many new hotels.
HAN urges the Government of Nepal, the Nepal Rastra Bank and related banks and financial institutions to save and revive the Nepali hotel sector from the difficult economic cycle.