Annapurna Square Pvt. Ltd. signs management contract with ITC Hotels for new 5-star Hotel at Durbarmarg
Annapurna Square Pvt. Ltd. has entered into a management contract with ITC Hotels, a prominent name in luxury hospitality in India, to redevelop and operate a new 5-star hotel at the current site of Hotel Annapurna at Durbarmarg. This collaboration marks a transformative chapter for Nepal’s hospitality sector, as ITC Hotels will manage the property under its esteemed Welcomhotel brand, positioning the reimagined Annapurna as a premier luxury destination and enhancing its legacy as one of Kathmandu’s most iconic destinations.
At the signing ceremony held in Kathmandu, ITC Hotels brought its hallmark of world-class management, sustainability, and vast hospitality experience to the project. Annapurna Square Pvt. Ltd. aims to preserve the rich cultural heritage of the iconic hotel while setting new benchmarks for luxury hospitality in Nepal. This will be ITC Hotels second international project in Nepal. ITC Hotels hospitality may also be experienced at Fortune Resort & Wellness Spa Bhaktapur in Nepal. ITC Ratnadipa, a magnificent architectural icon was launched in Colombo, Sri Lanka by ITC Hotels in April 2024.
Key Highlights:
• Project Overview: Annapurna Square Pvt. Ltd. will oversee the transformation of Hotel Annapurna into a state-of-the-art, mixed-use complex featuring luxury accommodations, highend retail spaces, fine dining, and a large convention center. The project will include a 318-room 5-star hotel, 30 service apartments, four conference spaces, a shopping arcade, an entertainment zone, and more-turning the location into a true destination in the heart of Kathmandu.
• Operational Collaboration: ITC Hotels will manage the day-to-day operations, branding, and guest experiences, bringing its world-renowned hospitality excellence and sustainability ethos to this project.
• Timeline: The hotel is undergoing redevelopment with the new property slated to open by April 2028.
• Sustainability Initiatives: In line with ITC Hotels commitment to “Responsible Luxury” and Sustainability, the new Hotel Annapurna will incorporate eco-friendly practices, from energy efficient technologies to the use of locally sourced materials. The project will also prioritize supporting Nepal’s local economy by employing local artisans and sourcing Nepali products. One of the region’s premier architecture firms, Morphogenesis, India, has been entrusted with bringing this vision to life. Renowned for its innovative designs and sustainable approach, Morphogenesis is working diligently to transform the dream of Annapurna Square into a reality, blending modern architectural excellence with the cultural essence of Kathmandu.
Shreejana Rana, Executive Director of Hotel Del’ Annapurna Pvt. Ltd., expressed her excitement: “We are delighted to collaborate with Annapurna Square Pvt. Ltd. in the redevelopment of Hotel Annapurna. Our theme, ‘The Annapurna: Reviving from a Hotel to an Iconic Destination,’ reflects our commitment to blending heritage, luxury, and modern innovation. ITC Hotels’ expertise in sustainable and responsible luxury is the perfect complement to our vision, and we believe this collaboration will preserve the hotel’s legacy for generations to come.”
Min Bahadur Gurung, Chairman of Annapurna Square Pvt. Ltd., remarked: “This association with ITC Hotels marks a significant milestone for Nepal’s tourism industry. ITC’s unrivaled experience in luxury hotel operations aligns with our ambition to reimagine Hotel Annapurna as an extraordinary landmark in Kathmandu. Together, we will set new standards in luxury hospitality and position Kathmandu as a world-class destination, attracting discerning travelers from all over the globe.”
Anil Chadha, Chief Executive, ITC Hotels, stated: “We are delighted to work with Annapurna Square Pvt. Ltd. to manage this iconic property. ITC Hotels is committed to delivering exceptional guest experiences with a focus on sustainability and cultural preservation. Hotel Annapurna has played a significant role in Nepal’s history, and we are excited to help elevate its legacy. Our planet positive philosophy will ensure that the redeveloped property shall be rooted in the heritage and local ethos of the land.”
About Hotel Del’ Annapurna Pvt. Ltd.
Located in Durbar Marg, Hotel Annapurna has been a pillar of Nepal’s history for over six decades, hosting royalty, dignitaries, and global travelers. The redevelopment project will rejuvenate this heritage property, combining cultural preservation with modern luxury and sustainability.
About Annapurna Square Pvt. Ltd.
Annapurna Square Pvt. Ltd. is a special-purpose vehicle created to redevelop the Annapurna Hotel under a Build, Own, Operate, and Transfer (BOOT) model. The project will transform the hotel site into a vibrant, multifunctional complex, merging hospitality, retail, and cultural experiences. The company is committed to creating landmarks that seamlessly blend traditional architecture with modern luxury and sustainability.
About ITC Hotels Group:
The hotel has 140 hotels with 13,000+ keys and is located in 90 destinations. With the enduring Namaste as the symbol of its brand experience, ITC’s Hotel Group is one of India’s leading luxury hotel chains offering comprehensive hospitality solutions. Embodying Sustainability & ‘Responsible Luxury’ as its guiding premise, ITC’s Hotel Group integrates India’s fine tradition of hospitality with globally benchmarked services to reflect the culture and ethos of each destination, through a collection of hotels. Staying ahead of the sustainability curve, ITC Hotels became the largest chain in the world to have 23 LEED Platinum-certified hotels. The first 12 hotels in the world to receive LEED Zero Carbon Certification and the first 5 hotels to be LEED Zero Water Certified are ITC Hotels. ITC’s Hotel Group operates under six distinct brands; ‘ITC Hotel’, ‘Mementos’, ‘Welcomhotel’, ‘Storii’, ‘Fortune’ and ‘WelcomHeritage’.
