Lemon Tree Hotels launches its 100th property with the opening of Lemon Tree Premier, Malad, Mumbai

With the launch of Lemon Tree Premier, Malad, Mumbai, Lemon Tree Hotels Limited has achieved another milestone - its 100th property. This comes close on the heels of the launch of Aurika, Mumbai Skycity - India's largest hotel, by number of rooms. This year has been significant as the company witnessed rapid expansion in their portfolio and this is the 14th hotel that opened this year.

While the company was founded in 2002, the first hotel, Lemon Tree Hotel, Udyog Vihar, opened its doors in 2004, less than 20 years ago. The journey from 1 to 100 also saw the company diversifying into seven brands, catering to different target customers.

Along the road, Lemon Tree Hotels has broken stereotypes and transformed the industry. It has pioneered the concept of the mid-market hotel segment and created a 'low-cost carrier' equivalent of the hotel industry in India. The brand, by introducing a disruptive market innovation through providing high-quality yet affordable services in the Indian hotel industry, paved the way for the rise of midscale hotels in India.

The strength of the organisation lies in its workforce, many of whom are people with disabilities or come from the economically and socially deprived backgrounds. This initiative too has had the effect of shaking up the job market, by training, upskilling and mainstreaming individuals from all walks of life.

Lemon Tree Premier, Malad, Mumbai is one more feather, though a significant one, in the cap of Lemon Tree Hotels Ltd. Located at New Link Road, Lemon Tree Premier, Malad, Mumbai, is an ideal destination for both business and leisure travellers. The Malad area enjoys excellent road connectivity to major areas of Mumbai through the SV Road, Goregaon - Malad Link Road and the Western Express Highway. The hotel offers 93 well-appointed rooms and spacious suites, Citrus Café - an inviting multicuisine coffee shop, Hunky Dory - a bar & kitchen, as well as a banquet hall and a meeting space for business and social event requirements. It also has a well-equipped fitness center and a refreshing swimming pool to keep you feeling fresh-as-a-lemon.

Speaking on the occasion, Mr. Patanjali G. Keswani, Chairman and Managing Director, Lemon Tree Hotels, said, "We have come a long way since Lemon Tree Hotels started. The doors to the first hotel opened in May 2004, and in less than 20 years, we are now 100 hotels strong. The journey has been challenging, but exciting and adventurous in equal measure, and we look forward to launching another 100 in the coming years. I would like to thank each of the team members who has been a part of our journey and helped us reach this milestone."

Shares of Lemon Tree Hotels Limited was last trading in BSE at Rs. 120.90 as compared to the previous close of Rs. 120.60. The total number of shares traded during the day was 260011 in over 1788 trades.

The stock hit an intraday high of Rs. 122.85 and intraday low of 120.15. The net turnover during the day was Rs. 31486566.00.

Source : Equity Bulls

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