Subscription to Radisson Hotel\'s 1.25 million ordinary shares opened on Tuesday. This came about just 18 months after the hotel began operations. Radisson has thus become the fourth hotel to go public. (The others are Soaltee, Yak and Yeti and the yet-to-open Hyatt-Tara Gaon Regency.) Oriental Hotels will continue to retain the majority holding in Radisson.

Unlike other five-star properties that sit on spacious grounds, Radisson is built on a relatively small area. But because it is right in the heart of Kathmandu\'s diplomatic and corporate enclave, it has been able to make major inroads in the hospitality market.

"That\'s going to be an advantage as Kathmandu\'s traffic worsens;\' says Ian Barrow, General Manager of Radisson.Our target is to do as much business as other five star hotels which would be an incredible achievement for a company that has been in business for just two years." He aims to achieve a turnover of Rs 700 million within three years. Says Barrow, "My job is to ensure good operating profits where we\'ve done fairly well"

Despite Nepal\'s shrinking summer tourist arrivals-especially because of a decrease in tourists from the Mediterranean countries-the hotel has managed a reasonable occupancy rate. With only 170 rooms, that becomes relatively easier.

Radisson has turned its "disadvantage" in terms of property by going vertical. It\'s swimming pool is located on the fifth floor. The plan now is to build two restaurants, one adjoining the pool and another on the roof. Another distinct edge it has over competitors are the meeting rooms of different sizes that can accommodate from eight to 800 people.

The fact that most of Nepal\'s tourists are backpackers does not discourage Barrow, who\'s seen Bali in Indonesia transform from a haunt for tourists hunting for the "exotic" into a five-star destination.

"We need to begin looking at positioning ourselves as a higher-level market," says Barrow.