Lemon Tree Hotels has signed a license agreement for an 85-room property in Janakpur, Nepal. This expansion increases its portfolio in Nepal to eight properties and its international presence to eleven. The new hotel will feature amenities including a restaurant, banquet hall, and spa, catering to the spiritually significant city's growing heritage tourism.
Lemon Tree Hotels Ltd. announced on Monday the signing of a license agreement for an 85-room property in Janakpur, Nepal. The hotel, to be managed by Carnation Hotels Private Limited, a subsidiary of Lemon Tree Hotels, will offer a full suite of amenities including a restaurant, banquet hall, meeting rooms, bar lounge, swimming pool, spa, and fitness center.
Nepal Expansion Bolstered
This development significantly expands the group's footprint in Nepal, bringing its total portfolio in the country to eight properties, comprising three operational hotels and five upcoming ones. It also contributes to Lemon Tree Hotels' growing international presence, which now stands at 11 properties, including hotels in Bhutan and Dubai. The Janakpur property is part of the company's pipeline of future developments.
Strategic Location in a Spiritual Hub
Janakpur, recognized as a paramount spiritual destination in South Asia, is revered as the birthplace of Goddess Sita and the ancient capital of the Mithila Kingdom. The city attracts millions of pilgrims and heritage travelers, particularly during major festivals like Vivah Panchami and Ram Navami. The new hotel's location in the Dhanusha District places it conveniently close to key pilgrimage sites such as the Janaki Temple and sacred ponds.
Market Reaction
Shares of Lemon Tree Hotels Ltd. closed at ₹118.75 on Monday, marking a gain of ₹5.70, or 5.04%, on the BSE, reflecting positive investor sentiment following the expansion announcement.