Lemon Tree Hotels shares gain 2% on opening new hotel in Rajasthan

Lemon Tree Hotels Share Price | The company has also signed an agreement for new hotel in Gujarat’s Vadodara

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Lemon Tree Hotels share price rose 2 percent in the early trade on March 1 after the company opened its seventh Lemon Tree Resort in Rajasthan’s Kumbhalgarh.

At 9.37am, Lemon Tree Hotels was quoting at Rs 142.40, up Rs 2.70, or 1.93 percent, on the BSE.

This resort has 59 rooms & suites, a multi-cuisine coffee shop, banquet spaces and a swimming pool and will also have Slounge – a recreation bar and a fully equipped fitness centre, the company said.

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The hotel chain also signed a new property in Gujarat’s Vadodara, which is expected to open in FY25. It will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited.

The Vadodara property will feature 63 well-appointed rooms, a restaurant, a banquet hall and a meeting room.

On February 26, the company signed a licence agreement for Lemon Tree Resort in Sankhwas Garh, Rajasthan and Keys Lite by Lemon Tree Hotels, Vijayawada.

The company also signed a licence agreement for a hotel in Noida under the Lemon Tree Hotel brand and for a property in Marpalle in Telangana.

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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