- 12 Apr 2023
- ICICIdirect Research
LEMON TREE SIGNS TWO HOTELS IN NEPAL
LEMONTREE - 130 Change: -3.91 (-2.93 %)News: Lemon Tree Hotels announced its latest signing of two franchised hotels- Lemon Tree Premier, Kathmandu, Nepal and Lemon Tree Resort, Lumbini, Nepal. The two hotels would add almost 200 keys and take the count up to five properties in Nepal under different brands of the Lemon Tree umbrella
Views: Lemon Tree Premier, Kathmandu is expected to open before January 2024 while Lemon Tree Resort, Lumbini is expected to open by October 2023. Budhanilkantha, in Kathmandu district, has religious significance for both Hindus and Buddhists. The hotel is just 12 km from Tribhuvan International Airport, Kathmandu and is easily accessible through many cities in Nepal. Further Lumbini, best known for being the birthplace of Buddha is in southern Nepal and is one of the many pilgrimages that sprang up in places pivotal to the life of the Buddha. With new hotels in locations of religious tourism interest , the company could be able to register good occupancy levels and contribute to the revenue growth from FY25 onwards
Impact: Neutral