Lemon Tree Hotels signs new hotel in Biratnagar in Nepal

Lemon Tree Hotels Limited announced its latest international signing~ a Lemon Tree Premier in Biratnagar in Nepal. The hotel shall be operated through its subsidiary and management arm, Carnation Hotels Pvt. Ltd. This hotel, owned by Nepal International Hospitality Pvt Ltd, is expected to open in January 2023.

Biratnagar is a metropolitan city in Province 1 in Nepal. It is located 400 km east of the capital, Kathmandu, 175 km south of Mount Everest, the highest peak in the world, and just 6 km north of the bordering town of Jogbani in the Indian state of Bihar. Its strategic location serves as an entry point to eastern Nepal as well as north-eastern India, Considered to be the industrial capital of Nepal, the city is home to the Biratnagar Jute Mills, the country's first large-scale industry, as well as the birthplace of five prime ministers of Nepal.

Located in the capital city of Province No. 1, this premier property will feature 80 well-appointed rooms and suites, complemented by a multi-cuisine restaurant, a bar, and a specialty pan-Asian restaurant. It will also have meeting and event spaces, and premium recreational facilities, including a spa, swimming pool and fitness center.

Speaking on the occasion, Mr. Rattan Keswani, Deputy Managing Director - Lemon Tree Hotels and Director - Carnation Hotels, commented, "We are delighted to expand our upcoming portfolio in Nepal with Nepal International Hospitality. Nepal is not just a country with which we, as a nation, have close personal ties, but is also a region that we feel holds immense business and tourism potential, with its scenic locales and stunning mountains. The addition of this hotel will help expand our reach in the country, and add to our repertoire of hotels in the region. The planned casino, which will be built adjacent to the hotel, will be an added USP and provide an exclusive offering for our quests."

Shares of Lemon Tree Hotels Ltd was last trading in BSE at Rs.42.7 as compared to the previous close of Rs. 43.05. The total number of shares traded during the day was 111861 in over 467 trades.

The stock hit an intraday high of Rs. 44.8 and intraday low of 42.3. The net turnover during the day was Rs. 4808491.

Source : Equity Bulls

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