Lemon Tree Hotels Signs License Agreement for 175-Room Property in Surat

Lemon Tree Hotels is an Indian hotel chain that operates 100 hotels with 9,700 rooms across 64 cities. As of June 30, 2017, the Horwath Report identified it as the largest mid-priced hotel chain in India.Lemon Tree Hotels is dedicated to exceptional hospitality as it expands its portfolio. The opening of Aurika, Surat showcases the company’s ability to capitalise on growth opportunities in emerging markets, particularly in Gujarat, a highly valued business state, with Surat being a key city.Lemon Tree Hotels is poised to lead the hospitality industry in India and beyond, thanks to its robust project pipeline and commitment to excellence.

Lemon Tree Hotels Ltd investment in Surat, Gujarat:

Lemon Tree Hotels Ltd, a key player in India’s hotel industry, is expanding with a new property under its upscale brand, Aurika Hotels & Resorts. The company announced on Friday, August 23, the signing of a License Agreement for Aurika, Surat in Gujarat. The new Aurika property, set to open in FY 2030, will be managed by Carnation Hotels Pvt. Ltd, a subsidiary of Lemon Tree Hotels Ltd. This hotel will be a significant addition to the company’s portfolio, marking the second Aurika property in Gujarat following the success of its prior ventures in the same region.

Aurika, Surat is a premier destination tailored to meet the needs of both business and leisure travellers. With 175 exquisitely designed rooms and suites, guests are treated to a luxurious experience that seamlessly blends modern amenities with a hint of local culture. Each accommodation has been carefully curated to reflect Aurika’s dedication to upscale hospitality, guaranteeing that guests will bask in comfort and elegance throughout their stay.

Exclusive Facility in in New Property in Surat:

The upcoming property will showcase a variety of top-notch amenities to elevate the guest experience. One of the standout features is Mirasa, an all-day dining restaurant that will boast a diverse menu combining international flavours with local cuisine. This restaurant is set to become a culinary hotspot in Surat, attracting both hotel guests and residents alike.

Aurika Hotels & Resorts, Surat provides exceptional banquet facilities for various events and gatherings. The hotel’s elegant ballroom, Ekaara, is the perfect venue for hosting weddings, conferences, and other large-scale events. In addition, Aurum, the sophisticated boardroom, is designed to accommodate corporate meetings and smaller gatherings. Equipped with state-of-the-art technology, Aurum caters to the needs of business travellers, ensuring a seamless and productive experience. Guests will have access to a beautiful swimming pool, ideal for relaxation and spare moments. The hotel’s rejuvenating spa will provide a range of treatments, allowing guests to unwind and recharge during their stay.

Lemon Tree Hotels Ltd stock price:

Today, the stock price of Lemon Tree Hotels Ltd. has slightly declined, currently trading at Rs. 131.50 per share. The 52-week high for the stock was Rs. 158.05 on May 6, 2024, and the 52-week low was Rs. 100.75 on October 26, 2023. Presently, the stock is trading 16.04% below its 52-week high and 31.71% above its 52-week low.

Conclusion: Lemon Tree Hotels Ltd is expanding its presence in the Indian hospitality sector with the opening of a new property in Surat. This move signifies the company’s commitment to capturing the growing market in Gujarat.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.