Lemon Tree Hotels launches second property in Nepal; shares fall 2%

Lemon Tree Hotels Share Price: The share touched a 52-week high of Rs 147.20 and a 52-week low of Rs 76.70 on 23 February, 2024 and 17 April, 2023, respectively.

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Lemon Tree Hotels share price declined 2 percent in early trade on April 15 despite the company announced the opening of its second property in Nepal.

At 09:29am, Lemon Tree Hotels was quoting at Rs 135.90, down Rs 3.55, or 2.55 percent, on the BSE.

Tigerland Safari, a Lemon Tree resort in Chitwan, Nepal, is the second property of the company in the neighbouring nation, after Lemon Tree Premier, which was opened in Kathmandu earlier in April.

The resort offers 35 well-appointed cottages with a view of the lush green Chitwan National Park, along with Citrus Café, a multi-cuisine coffee shop, and an expansive banquet space to meet all discerning guests’ event and conference needs.

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In March, the company signed a new property in Jharkhand’s Ranchi and signed a license agreement for Lemon Tree Hotels Agartala, Tripura.

Also, the company opened its seventh Lemon Tree Resort in Rajasthan’s Kumbhalgarh.

The share touched a 52-week high of Rs 147.20 and a 52-week low of Rs 76.70 on 23 February, 2024 and 17 April, 2023, respectively.

Currently, the stock is trading 7.68 percent below its 52-week high and 77.18 percent above its 52-week low.

The share price gained 76 percent in the last one-year.