Five-star hotel Taragaun Regency Hotels (Hyatt Regency Kathmandu) has stated that the hotel suffered extensive damage during the Bhadra 24 protests and has pledged to reopen it as soon as possible after reconstruction.

According to a statement issued by the hotel's executive director, Suresh Lal Shrestha, the damage caused to the hotel during the Gen-G movement and protests on Bhadra 23 and 24 is being assessed and it has been mentioned that after reconstruction, it will be operational with a firm resolve to further enhance Nepal's reputation in the tourism sector.

The vandalism, looting and arson activities during the protests have caused major damage to the overall structure of the hotel, including guest rooms, offices, reception, lobby, restaurant, banquet, and chaitya. After a complete assessment of the damage, the hotel has committed to upgrading and reconstructing it and bringing it into operation as soon as possible with more expanded and excellent services. According to the hotel, the reconstruction and upgrading will take at least a year. According to the hotel, a one-day closure during the high season results in a loss of business of Rs 200,000 to 250,000. The hotel's annual turnover in the fiscal year 2080/81 was Rs 1.55 billion 89 million 52 thousand 340. It is estimated that around 4,000 protesters entered the hotel premises on the day of the attack. At that time, 123 guests were staying in the hotel rooms. Some of them were injured. After the sudden fire, the guests tried to break the windows and escape with the help of ropes. With the help of the Nepal Army, all the guests were rescued and shifted to the Yak & Yeti Hotel.

On the 24th, Indian citizen Rambir Singh and his wife Rajeshdevi Gola were staying at the hotel. Rajesh Gola was injured while trying to escape during the sudden attack. Although his wife suffered a nose injury, her head was not seriously injured. She was conscious when she was put in a vehicle after the rescue, but died the next day at the Tribhuvan University Teaching Hospital.

Mr. Rambir Singh has informed the hotel. The hotel expressed grief over the incident and provided necessary assistance to Singh and has coordinated with the Indian Embassy to send the deceased's body to India.

The hotel currently employs 300 (regular and outsourced) employees. The hotel's major corporate clients included Turkish Airlines, Cricket Association of Nepal, Cathay Pacific Airways and dozens of other corporate organizations. According to senior Hyatt officials, the protests have caused inconvenience to Hyatt's loyal customers and brand floors for some time. The company said that the hotel will be operational with expanded and quality services after reconstruction. The management has expressed confidence that this will strengthen Nepal's tourism sector and investment environment in the long term. The company expects the government to provide the necessary permits, support and coordination smoothly during the reconstruction of the hotel. In addition, the Gen-G movement and protests have seriously affected the country's economy and investment environment, and it has urged the government to take concrete steps for foreign investment-friendly policies and revival. The hotel has expressed hope that Prime Minister Sushila Karki and Finance Minister Rameshwor Prasad Khanal have assured the government of providing the necessary support.

The hotel is planning to establish an international-level exhibition center in the coming days, which will directly and indirectly create thousands of jobs and significantly contribute to revenue growth. However, the hotel says that it is facing difficulties in further investment as foreign investors have not received dividends for the past 8 years.

‘The hotel has been witnessing various political and social changes in Nepal in the last two and a half decades,’ the statement said. ‘During this period, we have faced challenging situations such as conflict, peace process, constitution-making, earthquake and the Corona pandemic, and have contributed to the employment of thousands and the economy.’