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| Exchange Received Time 31/10/2018 17:05:58 Exchange Disseminated Time 31/10/2018 17:06:03 Time Taken 00:00:05 | With reference to the captioned subject, we would like to inform that the Company 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 Private Limited, the hotel management arm of the Company will be operating and marketing this Hotel.
This is our second foray in Bhutan, the first being a 7 acre resort overlooking the Thimphu Valley.
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