Daily Newsletter

11 August 2023

Daily Newsletter

11 August 2023

Nepal’s Hotel Mystic Mountain to upgrade to five-star property

The four-star hotel, which is located in the lush forest of a hilltop in Nagarkot, will begin its upgrade programme soon.

Shalini Nair August 10 2023

Nepal’s Hotel Mystic Mountain has announced its plan to be upgraded to a five-star property to cater to the growing demand for hotel rooms from foreign and domestic travellers, reports The Kathmandu Post.

The four-star hotel, which is located in the lush forest of a hilltop in Nagarkot, opened in July 2017 with 33 rooms.

Featuring hexagon-shaped building blocks, the hotel offers modern amenities including spa and gym, and swimming pool.

Hotel Mystic Mountain executive operation officer Bharat Prasad Badal said: “We are now upgrading to a five-star property by adding 30 rooms.”

According to Nepal’s Tourism Ministry guideline, five-star hotels in the Kathmandu Valley require a minimum of 100 guest rooms.

To add new rooms, the hotel plans to invest NRs1bn ($7.5m) to add the new rooms.

 “The project will begin soon,” added Badal.

The hotel, expanded in 2018 with the addition of 39 rooms, and which is located 30km east of Kathmandu, offers panoramic view of the Himalayas.

Hotel Mystic Mountain stated that it is witnessing increasing demand from the meetings, incentives, conferences, and exhibitions (MICE) segment.

Badal added: “We have been constructing a conference hall with the capacity to accommodate 350 people. We are also focusing on the MICE segment.”

Nagarkot is a popular hill station near Kathmandu. Nepal’s tourism was hit by the Covid-19 pandemic and now with the easing of restrictions, the hospitality industry is awaiting the number of foreign travellers to increase.

For the first seven months of this year, the count of foreign tourists arriving by air touched 534,207.

Nepal Tourism Board expects to host a minimum of one million foreign travellers this year, mostly from Asia.

Demand for upscale and luxurious products has been rising steadily in the travel and tourism sector

The theme of premiumization, and the upscale and luxury markets, now have the opportunity to thrive in an industry that has had to rapidly change to meet new changes in traveler demands. The increased need for privacy, a greater focus on health and wellbeing, a desire to tick off ‘bucket list’ experiences, unintentional saving of money, the tendency to take longer trips, the focus on eco-tourism, and an increase in millionaires means the theme of premiumization will continue to grow in importance. The travel industry will experience a surge in demand for higher-end and customized offerings as experiential consumption keeps growing. For many, ‘premium’ means a variety of things. However, it refers to first-rate service, extreme comfort, and one-of-a-kind experiences in travel and tourism. Premiumization is closely linked to luxury travel. While premiumization attracts only a small number of global travelers, it is important for companies as it is a valuable revenue stream that is unlikely to be impacted by external factors like economic downturns. Personalization is key in premium offerings, the shift from focusing solely on premium products to an emphasis on delivering exclusive and personalized offerings is apparent. Therefore, smart destinations can help to create hyper-personalized services and products. Leveraging the Internet of Things, destinations can curate offerings based on gathering real-time data on guest preferences and behaviors. This enables the industry to transcend typical offerings and remain competitive.

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