Jul 13, 2024

The Centurion Hotel and Nexgen Management have signed an agreement to raise investors.

The Centurion Hotel and Nexgen Management have signed an agreement to raise investors.

KATHMANDU, June 15:The Centurion Hotel and NexGen Management in Biratnagar, Morang, have established an agreement to grow funds, raise investors, and operate the hotel. The agreement was signed on Wednesday at Century Group of Companies' office in Dnyaneshwar. Moti lal Dugad, president of the Centurion Hotel, and Ramesh Kumar Bhattarai, president of Nexgen Management, inked the agreement.

The Centurion Hotel, a 10-story structure in the heart of Biratnagar, has been finished. The building will also have commercial establishments as well as banquet spaces for meetings and weddings. Radisson Biratnagar Hotel with 146 rooms of five-star level will be operated from the four floors of the same building.

In July 2022, an agreement was made with the international brand Radisson Hotel Group to run the hotel. This five-star hotel will be operated by the Century Group of Companies, which is led by Nepalese businessman and former minister Motilal Dugad.

More funds are required to upgrade the hotel to five-star and international standards, as well as for additional building and décor. For the same reason, an agreement has been reached with Nexgen Management to expand the company's capital, attract more founding investors, and complete other essential arrangements.  In addition, the process of converting the company into a limited company with the provision of issuing shares to the general public to increase the company's capital has also been advanced.

Nexgen Management Solutions Pvt Ltd is a wealth management and professional consulting company founded with investment from former bankers. It has provided consultancy services for the formation and administration of big and medium-sized industrial businesses.It struck an agreement with the Korean company MAVC Investment Group to invest 6 billion in Nepal's diverse industries at the recently finished international investment conference.