Tuesday, April 2, 2013
Starwood enters Nepal market again
Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced the signing of the Sheraton Kathmandu Hotel. Starwood will expand its reach in South Asia by reentering Nepal with the debut of the Sheraton brand. Slated to open in February 2018, the 225-room Sheraton Kathmandu Hotel is owned by MIT Group Holdings Nepal Private Limited and will be managed by Starwood Hotels & Resorts.
Starwood’s legacy in South Asia dates back to 1973, and the company currently operates 34 hotels with 24 hotels in the pipeline. It aims to have 100 hotels under operation, development and management contracts signed by 2015. Recently, the company announced its expansion plans in Bangladesh with the signing of Le Meridien Dhaka and the re-entry of Sheraton in Dhaka with a new hotel expected to open in 2016. Starwood will also make its foray into new markets like Sri Lanka with Four Points by Sheraton Colombo, International Airport and Sheraton Colombo Hotel in Colombo.
“We continue to look for opportunities to grow Starwood’s brands in South Asia and are delighted to announce the signing of the Sheraton Kathmandu Hotel, strengthening Starwood’s footprint in South Asia,” said Nikhil Manchharam, Vice President Acquisitions & Development, Starwood Asia Pacific Hotels & Resorts. “Re-entering Nepal with the Sheraton brand is an exciting moment for us as we bring the Sheraton experience to the vibrant and bustling city of Kathmandu. India is the largest source market for Nepal, a popular leisure and business destination for Indians and the fact that Starwood has a very strong footprint in India will give us a strategic advantage and help boost tourism in this destination,” he added.
Sheraton Kathmandu Hotel will be conveniently located along the city’s main road, Kantipath with just 40- minute drive from the Tribhuvan International Airport. Located adjacent to Thamel, Kathmandu’s most popular tourist area, the hotel will be located near foreign embassies, banks, corporate offices and tourist attractions such as The Narayanhiti Palace Museum.
“We are delighted to raise the Sheraton flag at our hotel, where we will offer the entire Sheraton brand’s recently enhanced amenities and services in a great location in Kathmandu,” said Shesh Ghale Chief Executive Officer, MIT Group Holdings Nepal Private Limited. “With increased demand and a strong affinity for international branded hotels, we believe the Sheraton Kathmandu Hotel will be a highly anticipated addition to the city of Kathmandu. Our ability to connect with travelers via Starwood’s award-winning Starwood Preferred Guest program will add further value to our association with Starwood Hotels.”
Sheraton Kathmandu Hotel will offer 225 guestrooms. All rooms will be exquisitely appointed offering a full range of amenities, including the plush, all-white Sheraton Sweet Sleeper® bed, designed using the AAA Five Diamond Award® criteria, high speed internet access, and luxurious bath and body products. The heart of the lobby will feature the Link@Sheraton® experienced with Microsoft®– a social hub in the lobby providing complimentary WiFi and workstations so guests can stay connected while on the road. The hotel will have a Spa and swimming pool and guests can keep fit through the brand’s revolutionary new health and fitness program, Sheraton FitnessSM programmed by Core Performance, designed exclusively for Sheraton guests through its partner Core Performance.
Sheraton Kathmandu Hotel will offer four food and beverage venues, a signature venue and specialty restaurants and bar that will offer distinctive culinary experiences for guests. The hotel will also house 16,500 square feet of meeting space, a well equipped Business Center, and the Sheraton Club.
To find out more log on to www.sheraton.com/kathmandu.