Lemon Tree Hotels signs two new properties in Junagadh, India and Nepal

In line with the company's asset-light growth strategy, Lemon Tree Hotels signed two new properties today - Lemon Tree Hotel, Junagadh, Gujarat, India and Tigerland Safari - A Lemon Tree Resort, Chitwan, Nepal. The former is expected to be operational by FY 2025 and the latter is expected to be operational in FY 2024 itself and both the properties shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited.

Lemon Tree Hotel, Junagadh will feature 64 well-appointed rooms, a restaurant, a banquet hall, meeting room and other public areas. The Rajkot Airport is 102 kms from the property while the Junagadh Railway Station is just 1 km away. The hotel is connected by both public and private transport from all major cities in India.

Tigerland Safari - A Lemon Tree Resort, Chitwan, Nepal will feature 35 wellappointed rooms, one restaurant, banquet hall, meeting rooms and other public areas. The Bharatpur Airport, Nepal is about 22 kms from the property.

Commenting on the development, Mahesh Aiyer, CEO, Carnation Hotels Private Limited - The management subsidiary of Lemon Tree Hotels, said "We are pleased to partner with M/S Trimurti Inn LLP for our latest signing in Junagadh and with Tigerland Safari Resort Pvt. Ltd. in Nepal. The two additions under two diverse brands aligns with our asset-light policy. These would expand our offerings in different parts of the country and internationally to cater to a variety of travellers in different destinations".

Shares of Lemon Tree Hotels Limited was last trading in BSE at Rs. 122.80 as compared to the previous close of Rs. 117.90. The total number of shares traded during the day was 633384 in over 4864 trades.

The stock hit an intraday high of Rs. 123.35 and intraday low of 116.85. The net turnover during the day was Rs. 76666159.00.

Source : Equity Bulls

Keywords

LemonTreeHotels INE970X01018 Junagadh Nepal NewProperties