Lumbini Heritage Hotel to launch IPO: When?

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International hotel group IHG Hotels & Resorts is making a comeback in Nepal. For the first time, IHG is expanding beyond Kathmandu and will open its premium brand, ‘Crown Plaza,’ in Lumbini. Previously, Crown Plaza operated at Soltee Kathmandu, but the contract ended on May 14, 2021, and the brand returned to Nepal through Lumbini Heritage.

The Lumbini Heritage Hotel will be rebranded as ‘Crown Plaza Lumbini.’ The agreement between IHG and Lumbini Heritage Limited was signed in New Delhi, India. The deal was finalized by Chairman Subhash Amatya and Sudip Jain, Managing Director for Southwest Asia.

The hotel will offer 147 rooms, 7 suites, a multi-purpose hall, restaurants, a fitness center, a swimming pool, and other premium facilities. There are plans to launch a casino this year. Crown Plaza Lumbini is located just 1.9 km from Buddha’s birthplace and 9 km from Gautam Buddha International Airport in Bhairahawa.

IHG also plans to issue an IPO for the general public by 2026. With modern design and top-notch services, the hotel aims to become an international-level destination in Nepal.

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NEPSE Trading curates news from various share market sources across Nepal and offers deep analysis and commentary, helping readers understand key developments and their impact on the market.
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