Govt scraps license of Hotel Yak and Yeti over royalty issue

KATHMANDU: The Ministry of Culture, Tourism and Civil Aviation has scrapped the license of Hotel Yak and Yeti to operate its casino for failing to pay Rs 420 million in royalty owed to the government. 

The Ministry has also scrapped the 5-star rating certificate of the hotel, said the Tourism Department. 

According to the department, the Ministry also decided to hold the immovable property and freeze all the bank accounts related to the hotel.

 The Ministry of Culture, Tourism and Civil Aviation had issued a license in the name of the hotel to operate the casino on January 6, 1992.