KATHMANDU: Finance Minister Swarnim Wagle has welcomed the entry of the luxury hotel brand “The Ritz-Carlton” into Nepal, stating it is a positive milestone for the country’s tourism.

He made these remarks on Monday during a meeting at the Ministry of Finance with David Marriott, Chairman of Marriott International, and executives from their local partner, the Chaudhary Group (CG).

The meeting took place a day after the hospitality giants announced a partnership to establish a Ritz-Carlton hotel in Thamel, Kathmandu.

During the discussion, Finance Minister Wagle thanked David Marriott for expanding operations into Nepal and providing a new destination for wealthy global travelers.

He highlighted that the presence of such an iconic brand could put Nepal on the map for the world’s billionaires, adding that the project injects fresh enthusiasm into the investment community and elevates Nepali tourism to new heights.

Asserting that the newly formed government is dedicated to building an investment-friendly climate, Wagle urged Marriott to consider expanding its footprint beyond the Kathmandu Valley, promising full state support in legal facilitation and infrastructure development to secure and promote their investments.

In response, David Marriott praised Nepal as a world-class travel destination renowned for its mountains and trekking trails, assuring that The Ritz-Carlton would actively promote this image in the global market.

Expressing his excitement over the brand’s debut in Nepal, Marriott also committed to exploring further investment opportunities.

Sharing a similar optimism, Rahul Chaudhary, Managing Director of CG Hospitality Holdings, noted that the new government has renewed investor confidence but emphasized that continued state support remains vital.

The high-level meeting also saw the participation of Nirvana Chaudhary, Managing Director of CG Corp Global; Rajeev Menon, President of Marriott Asia Pacific (excluding China); and representatives from the Finance Minister’s secretariat.