Hotel Yak and Yeti to resume operation soon

March 29, 2006
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The management of Yak and Yeti, a leading five-star hotel of the country that remained closed since the last three months following argument between management and the employees union has announced that it is going to reopen the hotel soon.

Speaking at a press conference in the capital on Tuesday, Shiva Ram Thapa, president, corporate affairs said, “The hotel which has remained closed for the last three months, has incurred a huge loss of over Rs 50 million, so the hotel is now going to be operated as per the understanding reached between employee’s union and the management on March 26.”

Thapa said that the hotel could not continue distributing bonus to its employees every year due to low turnout of tourists to Nepal. When the management of the hotel announced voluntary retirement scheme, 17 employees left their jobs alongwith due incentives, he said.

A total of 380 staff are working at the hotel presently.

Thapa further said that the hotel, however, is not going to open its doors to tourists unless the gate constructed by Nepal Industrial Development Corporation (NIDC) on the way to Yak and Yeti hotel from Durbar Marg is demolished, as it has been constructed against the agreement reached between NIDC and the hotel.

Thapa also assured that said that despite the hotel having been closed from December 2005 and January 2006, the staff will be paid in full, as per their salaries.

Meanwhile, Bishwo Subedi, general secretary of Employees’ Union said that employees are united to save the hotel from extinction.