Kathmandu. The five-star Hotel Varnavas Museum Company owned by Nepali Congress lawmaker Rajendra Bajgain has done business worth Rs 17 million in the last 11 months. The business of the hotel, which is preparing to issue an IPO, has increased compared to 2024. In 2024, the hotel did business of only Rs 9 million.

This hotel is a five-star hotel located in Baluwatar, Kathmandu. The company was registered as a private limited company on November 27, 2018. It was later converted into a public limited company on August 13, 2024. There are a total of 48 rooms in the hotel property. The hotel started full operation in February 2024.

In the last fiscal year, the hotel has already approved the ipo proposal in the first annual general meeting. There are three swimming pools in this five-star boutique hotel with a museum between Naxal and Baluwatar. The nine-and-a-half-storey hotel is divided into three tiers.

These layers reflect the mountains, hills and terai regions of Nepal. All three levels have been designed to reflect the costumes, lifestyle and culture of the original indigenous communities. Each room of this hotel is known as the villages of the mountains, hills and terai. According to the company, the total investment of this hotel is Rs 1.16 billion.