First Business News Portal in English from Nepal
KATHMANDU: Taragaon Regency Hotel Ltd (Hyatt) has selected GP Rajbahak & Company to carry out its due diligence assessment (DDA).
The hotel’s Board of Directors has selected the company among the total seven companies that had applied for DDA a few days ago. According to Taragaon Development Committee, the company has been selected to work for the DDA of the hotel at a cost of around Rs 800,000.
On July 18, the hotel had bided a tender for DDA with a seven-day time period to apply. According to this, seven Nepali and foreign companies had applied for the tender. Among them the GP Rajbahak and Company was selected for DDA stating that the hotel was closed due to Covid 19 pandemic.
Prior to this, the hotel’s management committee had tried to conduct DDA alone. However, its Bod meeting held on July 15 cancelled all the earlier attempt for DDA from the committee started company selection process for DDA.
This is the first time that the hotel management agreed to conduct DDA from other company.
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