Nepal’s Tiger Palace Resort, the casino resort project developed by collapsed Silver Heritage Group in Bhairahawa near the border with India, has rebranded as Tiger Palace by Soaltee.
The new name was revealed by Nepalese hotel firm The Soaltee Hotels & Resorts following confirmation of the new partnership between the two brands. It also follows a transfer of ownership of the troubled resort from Himalayan Tiger Investment Inc to a group led by the former president of the Non-Resident Nepali Association (NRNA), USA, Buddhi Sagar Subedi, and former president of NRNA Canada, Deepak Dutta Guatam, in late 2023.
“The Soaltee Hotels & Resorts, established in 1966 with its flagship property The Soaltee Kathmandu, is a name synonymous with upscale hospitality in Nepal,” said The Soaltee Hotels & Resorts in a statement. “Over the decades, the brand has set benchmarks in tradition, innovation, and guest service, becoming a symbol of excellence in the country’s hospitality sector. With an expanding footprint across Nepal, The Soaltee Hotels & Resorts continues to redefine luxury and guest experiences.
“This partnership marks a significant milestone for Soaltee, as it extends its reach to Bhairahawa, further solidifying its status as Nepal’s hospitality leader. By integrating its expertise with the vibrant offerings of Tiger Palace Resort, Soaltee aims to elevate the standards of refined hospitality in the region.”
Tiger Palace was developed by Australian-listed Silver Heritage Group and opened in 2017 with a view to targeting the Indian market. However, Silver Heritage suffered a crippling financial blow in March 2019 when casino operations at Phoenix International Club in Vietnam, where it provided gaming management services, were shut down due to amendments to the property’s Investment Certificate which no longer allowed for the operation of gaming tables. Phoenix had accounted for around 45% of the company’s group-wide revenue in 2018.
Silver Heritage was later placed into administration by its main lender, OCP Asia, and eventually taken over by Philippines-based HatchAsia. Himalayan Tiger Investment Inc acquired Tiger Palace in August 2023 before its current ownership group took control.
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