Oriental Hotels concludes 28th AGM, posts Rs 43.8m net profit

KATHMANDU: Oriental Hotels on Friday concluded its 28th annual general meeting (AGM) in Jawalakhel, Lalitpur. The meeting, presided over by President Subhadra Shrestha, approved the board’s annual report for fiscal 2024/25, the audited balance sheet for mid‑June to mid‑July 2025, the profit and loss account, the cash flow statement and accompanying notes.

At the AGM, the hotel reported total income of Rs 1,088.60 million for fiscal 2024/25. Revenue comprised room sales of Rs 333.60 million, food and beverage sales of Rs 392.70 million, airport lounge revenue of Rs 271.70 million and other sales of Rs 90.40 million. Total operating expenses amounted to Rs 945.10 million, producing an operating profit of Rs 143.50 million and a net profit of Rs 43.80 million.

Management said results fell short of expectations because of intensified competition from newly constructed five‑star and other star hotels in Kathmandu and because tourist numbers have not returned to the pre‑pandemic surge of 2019, when arrivals were considerably higher. The company added that its new serviced apartment block became fully operational during the fiscal year and is expected to boost income in the coming months.

As proposed by the board, Oriental Hotels plans a rights issue totalling Rs 315,505,040 at Rs 0.2663 per share, equivalent to one new share for each existing share in the company’s paid‑up capital of Rs 1,184,494,960. Proceeds from the issue will be used to reconstruct and modernise the hotel’s older premises, with work already underway on the third, fourth and fifth floors.

Oriental Hotels received the Bronze Award for the National Best Presented Annual Report 2024 from the Institute of Chartered Accountants of Nepal (ICAN) for preparing its financial statements in accordance with Nepal Financial Reporting Standards.