On Tuesday, the Oriental Hotel (Radisson Hotel) convened its 24th annual general meeting through a virtual conference call.
Subhadra Shrestha, the company’s president, who presided over the meeting, stated that the hotel’s net income for the fiscal year 2020-21 was Rs 131.20 million, whereas the net operating cost was Rs 334.20 million, resulting in an operating loss of Rs 225.70 million and a net loss of Rs 203.60 million after deducting all costs, respectively.
As a result, the hotel will not be paying a dividend for the fiscal years 2020-21 and beyond. The hotel had made a profit of Rs 66.90 million in the previous financial year.
He stated that the hotel suffered a financial setback mostly as a result of the coronavirus epidemic, which resulted in a decrease of visitor arrivals and the implementation of government-imposed limitations to control the virus’ spread.
Furthermore, Subhadra Shrestha, Anil Das Shrestha, Misu Shrestha, and Bidhata Shrestha have been elected to represent institutional investors Group A, while Sunil Lal Shrestha and Prakash Tiwari have been elected to represent common shareholders Group B, and Rabindra Lal Shrestha has been unanimously elected to serve as an independent director. Subhadra Shrestha, Anil Das Shrestha, Misu Shrestha, and Bidhata Shrest
The Himalayan Times will publish a version of this item in print on October 7, 2021, and online on October 7, 2021.