Soaltee hotel registers growth in income

Kathmandu, January 11:

Soaltee Hotel Ltd has posted a 36.21 per cent growth in income in the fiscal year 2005-06, in comparison to the last fiscal year. “It has not been able to register expected profit due to deteriorating situation of the tourism industry,” states a press release. The hotel industry was badly hurt mainly due to frequent political unrest, bandhs and negative publicity of Nepal.

Last year, the hotel had incurred a net loss of Rs 92.3 million. This year, the loss came down to Rs 20.3 million, states the press release.

The rate of occupancy during the review period stood at 57.86 per cent. And the hotel has paid its all liabilities to the financial institutions according to its plan.