Lemon Tree Hotels goes to Bhutan, share price jumps 7%
The hotel in Thimphu will be managed by Carnation Hotels Private Limited, a subsidiary and the hotel management arm of Lemon Tree Hotels.
February 28, 2020 / 12:53 PM IST
Lemon Tree Hotels share price gained 6.7 percent intraday on February 28 amid stock market carnage after the hospitality company opened its second international hotel in the Bhutanese capital Thimphu.
After hitting the day's low in the morning, the stock started recovery in late morning deals and has been trading higher. It was quoting at Rs 53.85, up Rs 0.95, or 1.80 percent, on the BSE at 1230 hours.
"Management subsidiary Carnation Hotels announced its debut in the second international destination, Bhutan, with the launch of the first Lemon Tree Hotel in Thimphu," said the India's largest hotel chain in the mid-priced sector.
The hotel features 27 well-appointed rooms, a multi-cuisine restaurant, Citrus Cafe, a bar, Slounge and a fitness centre.
The hotel will be managed by Carnation Hotels Private Limited, a subsidiary and the hotel-management arm of Lemon Tree Hotels, the company said in its BSE filing.
Lemon Tree operates around 8,000 rooms in 80 hotels (including Keys hotels) across 48 cities under its various brands such as Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels, Keys Prima, Keys Select and Keys Lite.