CG Hotels & Resorts to set up three property funds to buy distressed assets

CG Hotels & Resorts to set up three property funds to buy distressed assets

Nepal's only billionaire Binod Chaudhary, whom Forbes valued at a billion dollars in March, gestures as he speaks with Reuters during an interview at his office at Chaudhary Group in Kathmandu October 4, 2013. REUTERS/Navesh Chitrakar

CG Hotels & Resorts, a part of the Kathmandu-based Chaudhary Group, is setting up three separate property funds to buy hotel assets as part of its expansion plan to double its hospitality portfolio, a top company executive said.

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