Lemon Tree Hotels signs a new property in Kundapura, Karnataka

Lemon Tree Hotels announced its latest signing - Lemon Tree Hotel, Kundapura, Karnataka. The property is expected to open by FY27 and shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited.

The culturally rich town derives its name from Kundeshvara temple built by Kundavarma of the Alupa dynasty who ruled the region in the 10th-11th century. Historically Kundapura served as the centre of power of Vijayanagara Dynasty and later came under the control of the Rajas of Baindoor who made it their principal port town.

Kundapur later came under the rule of the Portuguese during the 16th century. It was also a part of the kingdom set up by Haidar Ali and Tipu Sultan and after the latter's death in 1799, it came under the British rule.

Geographically, on the western coast of Karnataka, the town is flanked by rivers on two sides and the backwaters and Arabian Sea on the third. Kundapura is known for its unique dialect of Kannada and great food.

Lemon Tree Hotel, Kundapura, Karnataka will feature 80 well-appointed rooms, restaurants, meeting room, swimming pool, fitness center and other public areas. The Mangalore International Airport is 90 kms while the Udupi railway station is 38 kms from the hotel. The hotel is also well connected by roadways for both public and private transport.

Speaking on the occasion, Mr. Mahesh Aiyer, CEO - Carnation Hotels (the management subsidiary of Lemon Tree Hotels), commented, "We are pleased to announce the expansion of our portfolio in Karnataka. Religious tourism is a rapidly growing segment and we, as a brand, are actively expanding in this segment. This opening will be in addition to our eight existing hotels and resorts in the state."

Shares of Lemon Tree Hotels Limited was last trading in BSE at Rs. 117.70 as compared to the previous close of Rs. 118.30. The total number of shares traded during the day was 364254 in over 4187 trades.

The stock hit an intraday high of Rs. 119.85 and intraday low of 116.45. The net turnover during the day was Rs. 42969024.00.

Source : Equity Bulls

Keywords

LemonTreeHotels INE970X01018 Kundapura Karnataka