AB Hospitality's Wyndham Resort & Convention Centre, Itahari, reaches financial closure

KATHMANDU: AB Hospitality’s Wyndham Resort & Convention Centre in Itahari said it has reached financial closure, marking a major private sector investment aimed at expanding tourism and business events in eastern Nepal.

Led by AB Investment Holding chairman Desh Bandhu Basnet, the integrated resort and convention project will include international‑standard hotel facilities and a convention centre with capacity for more than 4,000 guests. Developers said the complex will be among the largest event venues in the region and is intended to attract destination weddings, exhibitions and national and international conferences.

Meanwhile, Everest Bank and Muktinath Bikas Bank have provided the financing for the development. Project backers highlighted the lenders’ involvement as a sign of confidence in eastern Nepal’s economic prospects.

Basnet, who also runs Mercure Kathmandu Sukedhara Heights and Ramada by Wyndham Itahari, is leading the Wyndham Resort & Convention Centre as his third major hospitality venture. The project reflects a long‑term plan to build world‑class tourism infrastructure in Nepal, according to a press statement issued by AB Hospitality.

Supporters point to improving regional connectivity and rising visitor flows from neighbouring markets such as India, Bhutan and Bangladesh as factors that could boost demand for meetings, incentives, conferences and exhibitions in the Biratnagar–Itahari–Dharan corridor. They expect the resort and convention centre to generate both direct and indirect employment, support local suppliers and attract national and international events to the eastern region.

Speaking at the announcement, Basnet thanked banking partners, investors, consultants, government agencies and other stakeholders for their support and said the development will act as a catalyst for economic growth, job creation and private sector investment in eastern Nepal.