Lemon Tree Hotels trades higher on licence deal for Dehradun property

The property is expected to open by FY27 and shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited.

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The share price of Lemon Tree Hotels was up marginally in early trade on October 17 after the company signed a licence deal for a 55-room property in Dehradun, Uttarakhand.

At 9:34am, Lemon Tree Hotels was quoting at Rs 123.00, up Rs 0.95, or 0.78 percent, on the BSE.

The property is expected to open by FY27 and shall be managed by Carnation Hotels Private Limited, a wholly owned subsidiary and the management arm of Lemon Tree Hotels Limited.

Keys Prima by Lemon Tree Hotels, Dehradun will feature 55 well-appointed rooms, a restaurant, a bar, a banquet hall, meeting rooms and other public
areas.

“We are thrilled to announce the expansion of our portfolio in Dehradun, Uttarakhand with our valued partner Doon Dwelling LLP. This opening will be in addition to our eight existing and five upcoming hotels and resorts in the state and we are looking to expand our footprint in Uttarakhand further,” said Vikramjit Singh, President, Lemon Tree Hotels.

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Earlier in this month, the company announced a franchisee agreement with Artisan Resorts to open a resort in Somnath, Gujarat. The resort will feature 52 well-appointed rooms, a restaurant, a board room, a fitness centre, a recreation room, a swimming pool, an outdoor events venue, and other public areas. According to the company’s regulatory filing, the hotel is expected to be operational in FY25.

The company opened its latest franchised property, Lemon Tree Hotel, at McLeodganj. This is the third property of the group in Himachal Pradesh. This is 95th Lemon Tree Hotel in India and the world.

The company launched Peninsula Suites, which is the sixth property in Bengaluru under the Lemon Tree umbrella. The property is managed by subsidiary Carnation Hotels, and the hotel management arm of Lemon Tree Hotels.

The company also signed a licence deal for two properties in Gujarat and Nepal and also signed an agreement for an 80-room property in Dehradun under the company’s Lemon Tree Premier brand.

In August, the company signed licence agreements for two properties under the Lemon Tree Hotel brand in Bhubaneswar and the Lemon Tree Mountain Resort in Kasauli.

In July, the company signed a licence agreement for an 80-room property in Punjab and for a 72-room property in Lucknow’s Gomti Nagar.