Lemon Tree Hotels on Monday said it has signed a license agreement with Bhangeri Durbar Resort Pvt Ltd, for an upcoming Hotel at Nagarkot in Nepal.
The 51-rooms Bhangeri Durbar Resort at Nagarkot will be operated through company's subsidiary and management arm, Carnation Hotels Pvt Ltd, Lemon Tree Hotels said in a regulatory filing.
The hotel project is expected to open by early 2021, it added.
"We are delighted to expand our reach in Nepal with this stunning resort. It is our second signing for a hotel in the country, which we feel holds immense business and tourism potential," Lemon Tree Hotels Deputy MD and Carnation Hotels Director Rattan Keswani said.
It will also add to company's repertoire of hotels internationally, which include its existing hotel in Dubai and upcoming international launches in Thimphu, Bhutan and Kathmandu, Nepal, he added.
Shares of Lemon Tree Hotels were trading at Rs 53.50 per scrip on BSE, down 1.02 per cent from its previous close.
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