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Lemon Tree Signs Pact to Open New Hotel in Nepal

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Lemon Tree Hotels (NSE:LEMONTREE, BOM:541233) has entered into a license agreement to set up a new 85-room property in Janakpur in Nepal, according to a Monday filing to the Indian stock exchanges.

The Lemon Tree Hotel, Janakpur, will be managed by the company's wholly-owned subsidiary Carnation Hotels.

With this signing, the hospitality company now has eight properties in Nepal, with three operational hotels and five in the pipeline.

Its overall international portfolio has also risen to 11 properties, with six operational hotels and five upcoming properties across Nepal, Bhutan, and Dubai.

The company's shares were up nearly 1% in Tuesday's trade.

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