Varnabas Museum Hotel to issue IPO

KATHMANDU, Jan 14:Varnabas Museum Hotel's first annual general meeting approved the proposal for an initial public offering (IPO).

This five-star boutique hotel with a museum located between Naxal and Baluwatar features three swimming pools.

The nine and a half-story hotel is separated into three floors. The levels reflect to the Himalayan, hilly, and Terai areas of Nepal. All three levels are intended to depict the attire, lifestyle, and culture of the original indigenous communities.

The rooms are named after villages in the Himalayan, mountainous, and Terai areas. This hotel received a total investment of 1.16 billion rupees.

The minimum price for a room at Varnabas is $250 USD (about 32 thousand Rs). The highest fee for a presidential suite is $1,700 (about 215 thousand rupees).