Chaudhary Group (CG) Holdings has announced developing four hotels in the next five years, with formal acquisition of Tigerland Safari Resort and Lodge in Chitwan on Wednesday. The 35-cottage Tigerland resort spread over eight bigas is located on the edge of the Chitwan National Park. “This acquisition is the beginning of our investment in the hospitality sector,” said Arun Chaudhary, chairman and managing director of CG Holdings. “Nepal has huge possibilities in the tourism sector. So we see a good future in the years to come.” CG Holdings plans to invest Rs5 billion in four proposed hotel infrastructure, excluding land, over the next five years. According to Chaudhary, a 200-room five-star “Holiday Inn” property will be built in Jhamsikhel, Lalitpur, and will be completed by 2020. The company had signed a management contract with InterContinental Hotels Group, one of the world’s leading hotel companies, in March to manage the hotel The company also plans to construct another 80-room luxury five-star hotel in Sarangkot, Pokhara. The other proposed projects are 125-room business hotel at Tripureshwor and a “Wellness Retreat” with 50 cottages at Budhanilkantha in Kathmandu. CG Holdings is a wing of diversified conglomerate Chaudhary Group. Under the group, CG Hotels and Resorts recently brought into operation Meghauli Serai Jungle Lodge in Chitwan which managed by India’s most celebrated luxury hotel chain—Taj Hotels Resorts and Palaces.