Kathmandu. KATHMANDU: The credit rating of Gokarna Forest Resort Private Limited, a popular tourist destination of Nepal, has improved. ICRA Nepal has upgraded the resort with LBB Plus rating for long-term loan and Afo Plus rating for short term loan. <\/p>\n
Despite the improvement in the rating, the delays at the resort’s ambitious under-construction project, the Gokarna International Conference Center (Sabha Hall), have raised serious questions about the company’s financial health and loss of opportunities. <\/p>\n
Spread over 470 acres of forest area, this resort has collected revenue of Rs 8845.20 million in the fiscal year 2025. Although revenue has grown by 10 percent annually in the last three years, the average occupancy rate of the resort is limited to 44-45 percent. <\/p>\n
Experts say that despite investing billions of rupees in such a large area and special facilities like golf course, the occupancy is low and the current capital pressure has reached 76 percent. <\/p>\n
The resort’s Rs 80 crore International Conference Hall project has been slowed down. By the end of 2025, its physical progress has reached only 52 percent. The project, which was supposed to come into operation by April 2024, has been delayed due to delay in construction and due to permissions and procedural delays. <\/p>\n
The delay has not only increased the risk of increasing the cost of the project but has also put pressure on the cash flow of the company. Earlier, there was a plan to invest in additional self-capital but now the company has to bear 20 percent of the cost from internal source. <\/p>\n
At a time when the Government of Nepal is celebrating the Tourism Decade 2023 2033 and the demand for halls for big conferences in Kathmandu is increasing, Gokarna is losing this market. The Jenji movement has lost its opportunity at a time when demand for luxury hotels with large auditoriums is high in the market following the fire at the Hyatt Regency Building, a close rival in the Genji movement. As construction has been delayed, other luxury hotels competing are taking advantage of this opportunity. <\/p>\n
With the addition of new and international brand hotels in Kathmandu, Gokarna is likely to face stiff competition. According to ICRA Nepal, the main challenge for the company will be to complete and bring the under-construction convention center into operation on time and increase the occupancy of the resort. <\/p>\n
Although the ratings have had a positive impact on the ratings due to the strong backing and historical identity of Yeti and Thamserku Group, the delay in the project has hindered the future financial stability of the company.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. KATHMANDU: The credit rating of Gokarna Forest Resort Private Limited, a popular tourist destination of Nepal, has improved. ICRA Nepal has upgraded the resort with LBB Plus rating for long-term loan and Afo Plus rating for short term loan. Despite the improvement in the rating, the delays at the resort’s ambitious under-construction project, the […]<\/p>\n","protected":false},"author":5,"featured_media":226514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45077,45159],"tags":[],"class_list":["post-285415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-corporate-2-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/285415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=285415"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/285415\/revisions"}],"predecessor-version":[{"id":285416,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/285415\/revisions\/285416"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/226514"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=285415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=285415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=285415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}