Shares of Lemon Tree Hotels rise on signing two new properties in Gujarat and Nepal

Lemon Tree Hotels, a leading hospitality company in India, has signed two new properties in line with its asset-light growth strategy. The first property is Lemon Tree Hotel, Junagadh, Gujarat, India, which is expected to be operational by fiscal year 2025. The second property is Tigerland Safari – A Lemon Tree Resort, Chitwan, Nepal, which is expected to be operational by the fiscal year 2024. Both properties will be managed by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree Hotels.

Lemon Tree Hotel, Junagadh will have 64 well-appointed rooms, a restaurant, a banquet hall, a meeting room, and other public areas. It is located 102 km from Rajkot Airport and just 1 kilometre from Junagadh Railway Station. The hotel is well-connected by public and private transportation from all major cities in India. Tigerland Safari – A Lemon Tree Resort, Chitwan, Nepal will feature 35 well-appointed rooms, one restaurant, a banquet hall, meeting rooms and other public areas. The Bharatpur Airport, Nepal is about 22 km from the property.

Today, the stock opened at Rs 124.95, with a high and low of Rs 126.70 and Rs 122.50. The stock has a 52-week high of Rs 126.70 and a 52-week low of Rs 70.25. The current market cap of Lemon Tree Hotels Ltd is Rs 9,855.55 crore. Presently, promoters hold 23.93% stake in the company whereas the institutional and non-institutional holdings are 39.32% and 36.75%, respectively.

Lemon Tree Hotels Limited (LTH) is India’s largest mid-priced hotel chain. It offers a variety of hotels, from upscale to economy, and delivers superior service at a value-for-money price. LTH opened its first hotel in 2004 and now operates over 90 hotels across India. Lemon Tree Hotels, including Keys Hotels, have a presence across India, in metro regions such as the National Capital Region (NCR), Bengaluru, Hyderabad, Mumbai, Kolkata, and Chennai, as well as tier I and tier II cities such as Pune, Ahmedabad, Chandigarh, Jaipur, Indore, Aurangabad, Udaipur, Vishakhapatnam, Kochi, Ludhiana, Thiruvananthapuram, and Vijayawada. The company expanded internationally with the launch of hotels in Dubai in December 2019 and Bhutan in February 2020. New hotels are also opening internationally in Nepal.

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