Akama Hotel Partners with Wyndham for New Ramada Hotel in Kathmandu

Akama Hotel Partners with Wyndham for New Ramada Hotel in Kathmandu

By Author

Published on February 7, 2024

In a fresh development for Nepal's hospitality sector, Akama Hotel, a Nepal-based hotel development and investment company, has entered into a franchise agreement with the global giant Wyndham Hotels & Resorts. This strategic partnership paves the way for the launch of a midscale Ramada by Wyndham branded hotel in the heart of Kathmandu, Nepal, marking a significant step in enhancing the country's accommodation offerings.

Kathmandu, renowned for its historical richness and scenic beauty, stands as Nepal's capital and its most populous urban center. The city, nestled within the breathtaking Kathmandu Valley, sits at an elevation of 4,344 feet and boasts a vibrant cultural tapestry, underscored by its numerous World Heritage Sites.

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The forthcoming Ramada by Wyndham Kathmandu Dhumbarai, strategically positioned 3km from the revered Pashupatinath Temple and 4.5km from Tribhuvan International Airport, is poised to open its doors in 2024. With 109 rooms, the hotel is designed to cater to a diverse range of guests, offering amenities that include a lobby lounge, an all-day dining restaurant and bar, a health club, spa, swimming pool, meeting room, and a business center.

Binaya Kumar Shrestha, Chairman of Akama Hotel, expressed enthusiasm about the collaboration, stating, "We are pleased to partner with Wyndham Hotels & Resorts and introduce the Ramada by Wyndham brand in the city of Kathmandu. We are working closely with team Wyndham to convert the hotel to high international standards and look forward to welcoming guests to our hotel in 2024.”

Nikhil Sharma, Managing Director for Wyndham Hotels & Resorts Eurasia, echoed this sentiment, highlighting the importance of this venture in the company's expansion strategy. "We are happy to announce the signing of Ramada by Wyndham brand in Nepal, our fourth hotel in Nepal. This reaffirms our commitment to continued growth in the mid-market segment & further strengthens our presence in Kathmandu, Nepal."

The inauguration of Ramada by Wyndham Kathmandu Dhumbarai not only signifies an expansion of Nepal's hospitality landscape but also is expected to generate over 100 direct jobs, contributing to the local economy and employment opportunities.

This partnership between Akama Hotel and Wyndham Hotels & Resorts illustrates a shared vision for offering high-quality accommodations and services to both leisure and business travelers in Nepal, further solidifying Kathmandu's position as a prime destination for international and domestic tourists.


Hyatt Hotels to Sell Playa’s Real Estate Portfolio for $2 Billion

Hyatt Hotels to Sell Playa’s Real Estate Portfolio for $2 Billion

By Nishang Narayan

Published on July 5, 2025

Hyatt Hotels is doubling down on its asset-light strategy with a major move—selling Playa Hotels’ real estate portfolio to Tortuga Resorts for $2 billion. This follows Hyatt’s acquisition of Playa in February for $2.6 billion, including debt. Playa operates 24 luxury all-inclusive resorts across Mexico, Jamaica, and the Dominican Republic.

The sale covers 15 of Playa’s resort assets, effectively reducing Hyatt’s net purchase price for the remaining Playa business to around $555 million. The deal, still pending regulatory nods in Mexico, is expected to close before the end of 2025.

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As part of the arrangement, Hyatt and Tortuga will enter into 50-year agreements for these properties, allowing Hyatt to continue managing the resorts. Thirteen of the resorts will operate under Hyatt’s standard management fee structures, with two under separate agreements.

Hyatt CEO Mark Hoplamazian called the move transformational, noting it turns the Playa acquisition into a fully asset-light transaction. "It also ramps up our fee-based earnings," he added. Hyatt now anticipates its asset-light earnings mix could hit at least 90% by 2027.

Analysts view the swift real estate divestment positively, seeing it as a smart way for Hyatt to stay nimble while bolstering returns. Proceeds from this deal will primarily go toward repaying loans taken to finance the Playa buyout.


Novotel Visakhapatnam Varun Beach Earns Green Key Certification

Novotel Visakhapatnam Varun Beach Earns Green Key Certification

By Nishang Narayan

Published on July 5, 2025

Novotel Visakhapatnam Varun Beach, a flagship Accor property, has proudly announced that it has been awarded the Green Key Certification, a globally recognised eco-label that underscores excellence in sustainable tourism and hospitality.

Granted by the Foundation for Environmental Education (FEE)—one of the world’s leading environmental education organisations and recognised by the Global Sustainable Tourism Council (GSTC)—the certification marks a significant milestone in the hotel’s ongoing efforts to integrate eco-friendly practices without compromising guest comfort or luxury.

Lakshmi Sridhar, General Manager, Novotel Visakhapatnam Varun Beach, said, “At Novotel Visakhapatnam Varun Beach, we believe that sustainability is not just a responsibility, but a way of life. Being Green Key certified reinforces our commitment to offering eco-conscious experiences that align with global environmental standards.”

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The hotel has rolled out various impactful initiatives, from using clean, renewable energy and implementing robust waste management practices to driving water conservation, enhancing energy efficiency, and sustainably sourcing products. These measures are designed to benefit not only the environment but also the local community.

As travel trends increasingly lean towards conscious luxury and responsible tourism, this certification positions Novotel Visakhapatnam Varun Beach as a leader in sustainable hospitality in India.


IHCL to Open New Vivanta in Anjuna, Strengthening Goa Portfolio

IHCL to Open New Vivanta in Anjuna, Strengthening Goa Portfolio

By Nishang Narayan

Published on July 5, 2025

Indian Hotels Company (IHCL), India’s largest hospitality player, has announced the signing of a new Vivanta property in Anjuna, Goa. This greenfield project marks another step in IHCL’s strategy to grow its presence across key leisure destinations in India.

Strategically located in Anjuna, celebrated for its vibrant culture and beaches, the upcoming Vivanta Anjuna, Goa will feature 110 well-appointed rooms. Guests can look forward to an array of facilities including an all-day diner, a bar, a swimming pool, a fully equipped gym, and modern conference spaces, catering to both leisure and business travellers.

Suma Venkatesh, Executive Vice President - Real Estate & Development, IHCL, shared, “IHCL has been at the forefront of pioneering destinations and has played a defining role in putting Goa on the global tourism map for over five decades. This signing is in line with our strategy to expand IHCL’s presence across segments in key leisure markets. We are delighted to strengthen our partnership with Fiesta Hotels with this new project.”

The hotel is being developed by Fiesta Hotels Pvt. Ltd., led by directors Ravinder Kumar, Manju Vardhan, Raj Vardhan, Harsh Vardhan, Gagan Garg, and Gaurav Garg, who have deep investments in real estate and hospitality. Ravinder Kumar, Director, Fiesta Hotels Pvt. Ltd., said, “We are proud to collaborate with IHCL through the addition of our second hotel in Goa. It stands as a testament to our shared vision to deliver exceptional experiences in one of India’s most cherished destinations.”

Goa continues to attract travellers with its sun-soaked beaches, Portuguese-era architecture, thriving culinary and music scene, and vibrant local communities. With this signing, IHCL’s Goa portfolio grows to 18 hotels, including five under development, underscoring its long-standing commitment to shaping Goa’s tourism landscape.

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