Lemon Tree Hotels adds ~2% on launch of the first hotel in Nepal

10 Apr 2024 , 02:33 PM

Lemon Tree Hotels’ shares rose in early trading on April 10 as the firm announced its expansion into Nepal with the inauguration of Lemon Tree Premier in Kathmandu.

At around 2.14 PM, Lemon Tree Hotels was trading 1.89% higher at ₹140.30, against the previous close of ₹137.70 on NSE. The counter touched an intraday high and low of ₹140.95, and ₹139.10, respectively.

This is Nepal’s first resort, with 102 well-appointed rooms and suites, Citrus Café, a multi-cuisine coffee shop, Republic of Noodles, an award-winning Asian restaurant, Slounge, a trendy recreation bar, and a tea lounge.

The hotel features a separate convention centre with banquet and meeting facilities, as well as outdoor event space. The hotel’s recreational amenities include a well-equipped fitness centre, a Fresco spa, and a refreshing infinity pool.

“We are delighted to start FY25 on a high note, with the launch of our first hotel in Nepal – Lemon Tree Premier, Budhanilkantha, Kathmandu – as well as reaching the 10,000-room mark,” said Patanjali Keswani, chairman and managing director of Lemon Tree Hotels.

“This marks the beginning of numerous establishments planned for Nepal as we extend our presence across the nation, with multiple hotels and resorts scheduled to commence operations within this fiscal year and beyond. Additionally, we plan to enhance our presence in Bhutan during this fiscal year by opening a resort in Thimphu,” he further explained.

On February 23, 2024, and April 11, 2023, the stock reached a 52-week high of ₹147.20 and a low of ₹75.17, respectively. The stock is now trading 5.16% below its 52-week high and 85.71% higher than its 52-week low.

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