Stock Report

Lemon Tree Hotels signs a new property in Gir, Gujarat

Posted On : 2024-09-26 19:30:09( TIMEZONE : IST )

Lemon Tree Hotels announced its latest signing - Lemon Tree Hotel, Sasan Gir, Gujarat. The property, which shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited, is expected to open in FY 2026.

Gujarat is home to the renowned Gir National Park, which is best known as the last natural habitat of the critically endangered Asiatic lion. The park features a diverse ecosystem, encompassing dense forests, grasslands, and water bodies, creating an ideal environment for a variety of wildlife. Visitors can also encounter leopards, antelopes, deer, and numerous bird species. With its stunning landscapes and rich biodiversity, Gir National Park attracts nature lovers and wildlife enthusiasts from around the world.

Lemon Tree Hotel, Sasan Gir, Gujarat, will feature 74 well-appointed rooms, a restaurant, a meeting room, a banquet hall, a swimming pool, a spa, and a fitness center. Keshod Airport is approximately 60 kms from the property while the Diu Airport is at a distance of 100 kms and Hirasar Rajkot International Airport is 180 kms away. The nearest railway stations, Junagadh and Veraval, are around 50 km and 45 km away, respectively. The hotel is also well-connected by road, making it accessible by both public and private transport.

Mr. Vilas Pawar, CEO - Managed & Franchise Business, Lemon Tree Hotels said on the occasion, "We are excited to share the expansion of our portfolio in Gujarat, where we currently have seven existing properties. This addition will complement our ten upcoming properties in the state."

Shares of Lemon Tree Hotels Limited was last trading in BSE at Rs. 121.95 as compared to the previous close of Rs. 122.50. The total number of shares traded during the day was 202797 in over 2688 trades.

The stock hit an intraday high of Rs. 124.00 and intraday low of 121.70. The net turnover during the day was Rs. 24873113.00.