Lemon Tree Hotels, on Tuesday said it has signed two franchised agreements for two hotels, Lemon Tree Premier & Lemon Tree Resort, in Budhanilkantha and Lumbini in Nepal, respectively.

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The company claims to now have five properties in Nepal under different brands of the Lemon Tree.

Lemon Tree Premier in Budhanilkantha will feature 102 well-appointed rooms, two restaurants, one restrobar, a private dining room, three meeting rooms, one banquet hall, outdoor venues for events, an expansive swimming pool, a fitness center, a spa, a casino and other public areas and is expected to be operational on or before January 2024.

Also Read: Lemon Tree Hotels signs up license pact for new 88-room property in Bengaluru

While, Lemon Tree Resort in Lumbini to feature 81 well-appointed rooms, a restaurant, a bar, meeting rooms, an outdoor event venue, a private dining room and other public areas and is expected to be operational on or before October, 2023, the company revealed.

The Tribhuvan International Airport in Kathmandu is about 12 kms away. While, the hotel is connected by both public and private transport to the major cities in Nepal, Lemon Tree added.

Vilas Pawar, CEO, franchise business of Lemon Tree Hotels said, "We take great pleasure in announcing the latest additions to our portfolio with our valued partners Budhanilkantha Heritage Ltd. and Lumbini Palace Resort Pvt. Ltd and. We are gradually making forays in the international market and expanding our portfolio in Nepal to strengthen our regional presence."

Last week, Lemon Tree Hotels signed a licence agreement for a 88-room property in Whitefield, Bengaluru. The property expected to be operational by October, 2023.

Last month, Patanjali Keswani of Lemon Tree Hotels told CNBC-TV18 that the company’s occupancy Is at 75 percent while keys portfolio occupancy is below 75 percent. The company expects 20 percent growth in FY24, he added.

Stocks of Lemon Tree Hotels settled at Rs 77.15 apiece, Up nealry 0.8 percent, when the market closed today, April 11, 2023.

Also Read: Here is why shares of Lemon Tree Hotels outperformed in a weak market