Lemon Tree Hotels' Stock Dips After Nepal Expansion

15 Apr 2024 , 08:44 PM

Even though Lemon Tree Hotels announced the launch of its second hotel in Nepal, the company’s stock price fell by 2% in early trading on April 15.

Lemon Tree Hotels closed at ₹137.90 at 3:30 p.m. on the BSE, down ₹1.60, or 1.15%.

Following Lemon Tree Premier, which opened in Kathmandu earlier in April, Tigerland Safari, a Lemon Tree resort in Chitwan, Nepal, is the company’s second property in the neighbouring country.

To accommodate all discerning visitors’ event and conference needs, the resort offers 35 well-appointed cottages with views of the verdant Chitwan National Park, as well as Citrus Café, a multi-cuisine coffee shop, and an expansive banquet room.

The company signed a licence arrangement for Lemon Tree Hotels Agartala, Tripura, and a new facility in Ranchi, Jharkhand, in March.

In Kumbhalgarh, Rajasthan, the firm also inaugurated its seventh Lemon Tree Resort.

The share had a 52-week high of ₹147.20 on February 23, 2024, and a 52-week low of ₹76.70 on April 17, 2023.

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