Silver Heritage to expand business in Nepal

Kathmandu, March 31

Silver Heritage Group of Australia, which is one of the prominent foreign investors in the country’s hospitality sector and has already invested over Rs six billion, has expressed its plan to expand its business and raise investment in Nepal.

Mike Bolsover, chief executive officer of Silver Heritage Group, said that the improving investment environment in Nepal and the rise in both the flow of tourists and other tourism activities have motivated the company to invest further in the country.

The Silver Heritage Group currently has invested in the Tiger Palace Resort in Bhairahawa.

Similarly, the group has invested in the Millionaire Club and Casino.

“We started our business in Nepal through a resort in Bhairahawa and it has been successful along with the increasing flow of both foreign and domestic tourists in recent years. We plan to open our second and third resorts in the far-west region, probably in Dhangadi and also in Jhapa in the eastern region soon,” said Bolsover, adding that the resort in the far-western region will basically target tourists from Delhi and Haryana of India.

Citing that Nepal’s strategic location between India and China has created immense tourism potential in the country, Bolsover said that his group will gradually increase investment in Nepal’s hospitality industry. Similarly, the Silver Heritage Group is also planning to invest in a multiplex, restaurants and night clubs in Nepal, according to him.

However, Bolsover informed that Nepal still needs to enhance its air connectivity and prioritise the development of tourism infrastructure in a bid to ensure accelerated growth of the tourism and hospitality sector.

“Nepal needs to enhance the capacity of Tribhuvan International Airport, the only international airport of the country, as connectivity is crucial for tourism growth,” he added.

Among others, he mentioned that religious, adventure and cultural tourism in Nepal are appealing and the government needs to promote these sectors.