In early trading on February 27, Lemon Tree Hotels witnessed a rise in its share price following the company’s announcement of signing an agreement for two new properties in Rajasthan and Andhra Pradesh.
As of 9:32 am, Lemon Tree Hotels was trading at Rs 142.95, marking an increase of Rs 1.90 or 1.35 percent on the BSE.
According to an exchange filing by the company, it has entered into a license agreement for Lemon Tree Resort in Sankhwas Garh, Rajasthan, and Keys Lite by Lemon Tree Hotels in Vijayawada, Andhra Pradesh.
Both properties are slated to open in the financial year 2025-26 and will be operated by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited.
The Lemon Tree Resort in Sankhwas Garh is set to offer 51 rooms along with facilities such as a restaurant, bar, banquet hall, meeting rooms, swimming pool, and other public areas. Meanwhile, Keys Lite by Lemon Tree Hotels in Vijayawada will comprise 44 rooms, a restaurant, and a meeting room.
Earlier this month, Lemon Tree Hotels also inked a license agreement for a forthcoming hotel in Noida under the Lemon Tree Hotel brand, along with another agreement for a hotel in Marpalle, Telangana.
