Lemon Tree Hotels Limited has signed two License Agreements for new hotel properties through a regulatory disclosure filed under SEBI Listing Regulations Regulation 30.
The company signed agreements for:
1. Lemon Tree Hotel, Siddharthanagar in Nepal - 120 well-appointed rooms with facilities including restaurant, banquet hall, meeting/conference room, bar lounge, swimming pool, spa, and fitness centre
2. Keys Select by Lemon Tree Hotels, Vijayawada in Andhra Pradesh - 70 well-appointed rooms with facilities including restaurant, banquet hall, meeting/conference room, spa, and fitness center
Both properties will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited.
Portfolio Impact
Nepal Market: The Siddharthanagar signing brings Lemon Tree's Nepal portfolio to eight properties total (five operational hotels and three upcoming properties). The property is strategically located in Siddhartha Nagar, Rupandehi, benefiting from proximity to Lumbini (Buddhist pilgrimage destination) and the India-Nepal border. Bhairahawa Airport is approximately 2 km from the hotel.
Andhra Pradesh Market: The Vijayawada signing brings Lemon Tree's presence in Andhra Pradesh to 11 properties total (six operational hotels and five upcoming properties). Within Vijayawada specifically, the group will now have five properties (three operational and two in pipeline). The Keys Select brand is positioned as midscale, targeting commercial activity and growing connectivity. Vijayawada Airport is approximately 19 km from the hotel, while Vijayawada Railway Station is 1.5 km away.
Management Commentary
Mr. Vishvapreet Singh Cheema, President of Lemon Tree Hotels Ltd., stated that the growth strategy focuses on building scale in markets with sustained opportunity. He highlighted Andhra Pradesh and Nepal as important markets, with these signings advancing expansion plans in each region.
The disclosure was signed by Pawan Kumar Kumawat, Company Secretary & Compliance Officer (Membership No: A25377), and includes reference to an attached press release.