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Lemon Tree Hotels inks license agreement for city hotel in Bhutan

01 Nov 2018 Evaluate

Lemon Tree Hotels has signed a license agreement for a 27 room city hotel in the heart of Thimphu, Bhutan under the company’s brand ‘Lemon Tree Hotel’. The Hotel is expected to be operational by March, 2019.

Carnation Hotels, the hotel management arm of the company will be operating and marketing this Hotel. This is the company’s second foray in Bhutan, the first being a 7 acre resort overlooking the Thimphu Valley.

Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of June 30, 2017.

Peers
Company Name CMP
The Indian Hotels Co 740.00
ITC Hotels 158.70
Mahindra Holi.&Resor 199.40
EIH 294.55
Chalet Hotels 839.75
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