Lemon Tree Hotels announced that it has signed a license agreement viz Lemon Tree Hotel in Udaipur, Rajasthan.
The property shall be managed by Carnation Hotels, a wholly owned subsidiary of Lemon Tree Hotels and is expected to open in FY 2027.
This hotel will feature 54 well-appointed rooms, a restaurant, a bar, a meeting room, a swimming pool, and a fitness center. The hotel is also well-connected by road, making it accessible by both public and private transport.
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Vilas Pawar, CEO-managed & franchise business, Lemon Tree Hotels, said, We are excited to share the expansion of our portfolio in Rajasthan, where we currently have nine existing and five upcoming properties. This addition will complement our three operational properties in the city.
Lemon Tree Hotels its principal activities are to carry out the business of developing, owning, acquiring, operating, managing, renovating, and promoting hotels, motels, resorts, restaurants, etc. under the brand name of Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima and Keys Lite.
The company reported a 15.55% fall in consolidated net profit to Rs 19.81 crore in Q1 FY25 as compared to Rs 23.46 crore posted in Q1 FY24. However, revenue from operations jumped 19.52% year on year (YoY) to Rs 268.02 crore in Q1 FY25.
Shares of Lemon Tree Hotels shed 0.38% to end at Rs 130.25 on Wednesday, 12 September 2024.
The scrip slipped 3.52% to Rs 113.90 on Monday, October 2024.
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First Published: Oct 08 2024 | 8:49 AM IST
