Shares of Lemon Tree Hotels were trading in the red and 4% lower on 15 April despite the company opening a second property in Nepal.

In its regulatory filing, the company said that they had inaugurated a second property in the neighbouring nation, Chitwan Nepal, after Lemon Tree Premier, which was opened in Kathmandu earlier in April.

Tigerland Safari, a unique addition to the Lemon Tree family, is a resort in Chitwan, Nepal, boasting 35 well-appointed cottages with a stunning view of the lush green Chitwan National Park. The resort also features the Citrus Café, a multi-cuisine coffee shop, and an expansive banquet space, catering to all the event and conference needs of guests.

Earlier in March, the company signed a new property in Ranchi, Jharkhand and a licence agreement for Lemon Tree Hotels Agartala, Tripura.

Furthermore, the company has opened its seventh Lemon Tree Resort in Kumbhalgarh, Rajasthan.

Lemon Tree Hotels’ shares have demonstrated a moderate performance, with a return of approximately 14% in six months and 73% in the past year. The shares reached a 52-week high of Rs 147.25 on 23 February 2024 and a 52-week low of Rs 76.65 on 17 April 2023.

At 1:05 pm, the shares of Lemon Tree Hotels were trading 0.64% lower at Rs 138.60 on NSE.