Lemon Tree Hotels Signs Two New Properties in Nepal and India
Lemon Tree Hotels signed two new properties: Lemon Tree Hotel in Siddharthanagar, Nepal (120 rooms) and Keys Select by Lemon Tree Hotels in Vijayawada, India (70 rooms). Both will be managed by its subsidiary. These signings expand the group's presence in Nepal and Andhra Pradesh, reinforcing its growth strategy.
The signing of new properties contributes to the company's overall portfolio expansion and market presence, which is a positive development but does not immediately impact financial results significantly.
The announcement details the signing of new properties, which indicates business expansion and growth for the company.
Lemon Tree Hotels Limited has announced the signing of two new properties: Lemon Tree Hotel, Siddharthanagar in Nepal and Keys Select by Lemon Tree Hotels, Vijayawada in Andhra Pradesh. Both properties will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited.
The Lemon Tree Hotel in Siddharthanagar, Nepal, will feature 120 well-appointed rooms, a restaurant, banquet hall, meeting/conference room, bar lounge, swimming pool, spa, and fitness center. This signing increases Lemon Tree Hotels' portfolio in Nepal to eight properties, including five operational hotels and three upcoming ones.
The Keys Select by Lemon Tree Hotels in Vijayawada, Andhra Pradesh, will comprise 70 well-appointed rooms, a restaurant, banquet hall, meeting/conference room, spa, and fitness center. This addition brings Lemon Tree's presence in Andhra Pradesh to 11 properties, with six operational and five upcoming.
Mr. Vishvapreet Singh Cheema, President, Lemon Tree Hotels Ltd., stated that the company's growth strategy focuses on building scale in markets with sustained opportunity. He highlighted the importance of both Andhra Pradesh and Nepal for the company's expansion plans. The new signings reinforce Lemon Tree Hotels' commitment to developing a strong and diversified portfolio.
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