Lemon Tree Hotels gains on signing agreement for 2 new properties
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Lemon Tree Hotels | The company signed a license agreement for Lemon Tree Resort in Sankhwas Garh, Rajasthan and Keys Lite by Lemon Tree Hotels, Vijayawada.
Lemon Tree Hotels
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Lemon Tree Hotels share price rose in the early trade on February 27 after the company signed an agreement for two properties in Rajasthan and Andhra Pradesh.
At 9.32 am, Lemon Tree Hotels was quoting at Rs 142.95, up Rs 1.90, or 1.35 percent, on the BSE.
“…. has signed a license agreement for Lemon Tree Resort in Sankhwas Garh, Rajasthan and Keys Lite by Lemon Tree Hotels, Vijayawada,” the company said in an exchange filing.
Both properties are expected to open in FY26 and shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited.
Sankhwas Garh, a Lemon Tree Resort, will have 51 rooms, a restaurant, a bar, a banquet hall, meeting rooms, swimming pool and other public areas.
Keys Lite by Lemon Tree Hotels, Vijayawada will feature 44 rooms, a restaurant and a meeting room.
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Earlier this month, the company signed a licence agreement for an upcoming hotel in Noida under the Lemon Tree Hotel brand. It also signed a licence agreement for a hotel in Marpalle in Telangana.
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In the December quarter, the company posted an 11.5 percent fall in its net profit at Rs 35.40 crore.
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