Lemon Tree Hotels Expands Portfolio with Keys Select Signing in Bareilly

On May 10, 2024, Lemon Tree Hotels informed the exchanges about the latest signing of Keys Select by Lemon Tree Hotels, Bareilly. The property will be franchised by Lemon Tree Hotels Limited and is anticipated to open in FY 2025.

Keys Select by Lemon Tree Hotels, Bareilly will have 60 well-appointed rooms, a bar, a restaurant, banquet facilities, a swimming pool, meeting rooms, a fitness centre, and additional public areas.

The company stated that the Bareilly airport is about 12 km from the property, while the Bareilly railway station is just 2 km away. The new hotel is connected by both public and private transport from all key cities in India.

Bareilly, situated in Uttar Pradesh near the Ramganga River, ranks as the seventh-largest metropolis in the state and the 15th-largest city in India. Renowned for its furniture manufacturing industry, the city is a significant hub for trading cotton, cereals, and sugar. Its cultural prominence heightened with the revival of a popular Hindi film song from the 1960s, recently featured in a movie. Additionally, its inclusion in the “Counter Magnets” list of the National Capital Region (NCR) further solidified its status. Bareilly is also affectionately known as Bans-Bareilly.

Lemon Tree Hotels is growing its portfolio in Uttar Pradesh, and this new hotel will join the six existing and five upcoming properties in the state. The company also said that Uttar Pradesh has huge potential for growth, with several tourist attractions and industries that display its historical and religious significance.

About Lemon Tree Hotels Limited

Lemon Tree Hotels Limited (LTHL) is one of the largest hotel chains in India, operating across various segments, including upscale, midscale, upper-midscale, and economy. Presently, the company boasts over 160 hotels, comprising operational and upcoming properties in India and abroad.

Lemon Tree Hotels are strategically positioned in major metro cities like NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, and Chennai, as well as in tier I, II, and III cities such as Ahmedabad, Pune, Jaipur, Chandigarh, Aurangabad, Indore, Udaipur, Kochi, Visakhapatnam, Ludhiana, Vijayawada and Thiruvananthapuram. Internationally, the company has expanded its presence with hotel openings in Dubai in December 2019, Bhutan in February 2020, and Nepal in April 2024.

On May 13, 2024, the share price of Lemon Tree Hotels Limited opened at ₹143.05, touching the day’s low at ₹137.45, as of 11:53 AM on the NSE.

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