Lemon Tree Hotels gains on launching first property in Nepal

Lemon Tree Hotels rose 1.05% to Rs 139.20 after the company announced their entry into Nepal with the opening of Lemon Tree Premier at Budhanilkantha, Kathmandu.

This marks not only the company's foray into Nepal but also marks the milestone of Lemon Trees inventory crossing 10,000 rooms.

This first property in the land of Mount Everest is a stylish, contemporary hotel. It features 102 well-appointed rooms and suites, Citrus Cafa multicuisine coffee shop, Republic of Noodles an award-winning Asian restaurant, Slounge a hip recreation bar and a tea lounge.

The hotel has a separate convention center which has expansive banquet spaces and conference facilities, besides extensive outdoor event spaces. For recreation, the hotel offers a well-equipped fitness center, Fresco spa and a refreshing infinity pool.

Patanjali Keswani, Chairman and Managing Director, Lemon Tree Hotels, said, We are very pleased to start FY25 on a high note, with both the launch of our first hotel in Nepal Lemon Tree Premier, Budhanilkantha, Kathmandu, and also crossing the 10,000 room mark. This is the first among several properties that would be coming up in Nepal, as we expand our footprint across the country, with a number of hotels and resorts set to open this fiscal and in the coming years. We are also going to expand our footprint in Bhutan further this fiscal, with the opening of a resort in Thimphu.

Vilas Pawar, CEO Managed and Franchise Business, Lemon Tree Hotels, further added, Kathmandu is popular tourist and business destination with travellers across the globe, and we could not have asked for a better entrant to this key market than the beautifully designed Lemon Tree Premier in Budhanilkantha. This launch sets the tone for the coming year for the brand, and we look forward to many more openings in the months to come, in India and abroad.

Lemon Tree Hotels is engaged to carry out business of developing, owning, acquiring, renovating, operating, managing and promoting hotels, motels, resorts, restaurants, etc. under the brand name of Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima and Keys Lite. Also, some of the Group companies provide project management services and learning & development services.

The companys consolidated net profit declined 11.43% to Rs 35.40 crore despite of 23.60% increase in revenue from operations to Rs 288.69 crore in Q3 FY24 over Q3 FY23.

Powered by Capital Market - Live News