Shares of Lemon Tree Hotels gained in the early trade on April 10 after the company announced its foray into Nepal with the opening of Lemon Tree Premier in Kathmandu.
At 9:22am, Lemon Tree Hotels was quoting Rs 139.60, up Rs 1.85, or 1.34 percent, on the BSE.
This is first property in Nepal with 102 well-appointed rooms and suites, Citrus Café, a multi-cuisine 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 centre with banquet spaces and conference facilities, besides outdoor event facilities. For recreation, the hotel offers a well-equipped fitness centre, Fresco spa and a refreshing infinity pool.
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“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," said Patanjali Keswani, chairman and managing director of Lemon Tree Hotels.
"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,” he added.
The share touched a 52-week high of Rs 147.20 and a 52-week low of Rs 75.17 on February 23, 2024 and April 11, 2023. Currently, the stock is trading 5.16 percent below its 52-week high and 85.71 percent above its 52-week low.
The share price jumped more than 80 percent in the last one-year.
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