CORPORATE HISTORY


Soaltee Hotel was founded in 1965 as a five-star luxury hotel and inaugurated by the Late King Mahendra Bir Bikram Shah Dev on 25 November, 1966. Tourism, in Nepal, started in the 1950s and Soaltee Hotel was at the forefront of this evolution as a pioneering luxury hotel. Striving for service excellence, right from its inception, Soaltee Hotel has grown to become synonymous with luxury and hospitality in Nepal. Beginning with 104 rooms in 1966, today Soaltee Crowne Plaza hosts 282 luxurious guest rooms and seven regal VVIP suites, spread over 12 acres.

milestones

1966Soaltee Hotel was inaugurated as a luxury hotel with 104 rooms.

1969Soaltee Hotel incorporated as a Private Limited Company with investment by Oberoi Hotels Private Limited. The name of the Hotel was changed to Hotel Soaltee Oberoi and management entrusted to the Oberoi Hotels. It was the Oberoi Hotels first international venture outside India.

1975The Company was converted into a Public Limited Company with investment in its share capital by Nepal Industrial Development Corporation (NIDC), International Finance Corporation (IFC), Oberoi Hotels Private Limited, Nepal Airlines Corporation (NAC), and promoters of the Company.

The Company also started airline catering which is now operated as LSG Sky Chefs.

1978Soaltee Hotel Limited was the first Nepali Company to obtain a loan from International Finance Corporation (IFC). IFC also picked up about 14 per cent equity in the company. This was the first investment by IFC in Nepal’s private sector.

1981An additional 180 guestrooms completed, bringing the total number of rooms to 282.

1987Hotel Soaltee Oberoi hosted the delegates of the third SAARC Summit in Kathmandu. This was the first time Nepal played host for the SAARC Summit.

1993The Company listed its stocks in the Nepal Stock Exchange Limited (NEPSE) under the code “SHL”. NIDC disinvested its shares by public offering. Soaltee Hotel became the first hotel company in Nepal to get its shares listed on the stock exchange. It was done with the aim to offer the general public an opportunity to participate, share and become a part of the Company’s prosperity.

 

1994Soaltee Hotel was renamed Soaltee Holiday Inn Crowne Plaza Kathmandu, after Holiday Inns (China) Limited, a fully owned subsidiary of the world famous InterContinental Hotels Group (IHG) took over its operations.

1996HI Soaltee Hotel Company Private Limited, a subsidiary Company of Soaltee Hotel Limited was incorporated as a joint venture Company with Holiday Inns Investment (Nepal) Limited.

1998The hotel was rebranded as Soaltee Crowne Plaza Kathmandu. A spacious 6,270 square feet conference hall and separate casino complex was also built.

2001IFC completed divestment of their equity in Soaltee Hotel which was acquired by Holiday Inns Investment (Nepal) Limited, Hong Kong,a fully owned subsidiary Company of InterContinental Hotels Group (IHG).

2011Oberoi Hotels Private Limited, an international hotel chain, sold out its entire stake in the Soaltee Hotel to a Nepali Company Sibkrim Land and Industrial Company Private Limited, a company of NE Group.

2014Soaltee Hospitality Limited, a fully owned subsidiary of Soaltee Hotel Limited was incorporated to invest and operate hotels throughout the country.

2016On 25 November 2016, Soaltee Hotel Limited completed 50 years – A Golden Jubilee Milestone for the hotel!