Lemon Tree Hotels jumps on signing new property in Shimla
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Lemon Tree Hotels is currently trading at Rs. 110.70, up by 2.20 points or 2.03% from its previous closing of Rs. 108.50 on the BSE.
The scrip opened at Rs. 109.95 and has touched a high and low of Rs. 111.55 and Rs. 109.45 respectively. So far 489974 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 112.85 on 31-Aug-2023 and a 52 week low of Rs. 70.25 on 23-Dec-2022.
Last one week high and low of the scrip stood at Rs. 111.55 and Rs. 105.50 respectively. The current market cap of the company is Rs. 8754.32 crore.
The promoters holding in the company stood at 23.60%, while Institutions and Non-Institutions held 35.86% and 40.54% respectively.
Lemon Tree Hotels has signed a License agreement for a 48 room property in Mashobra, Shimla, Himachal Pradesh under the Company’s brand ‘Lemon Tree Hotel’. The property is expected to be operational by Q1 of FY 2026 and shall be managed by Carnation Hotels Private, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels.
Located near Shimla at the Hindustan-Tibet road, Mashobra is a quaint hill town known for its sprawling apple orchards, trekking trails, dense forests of deodars, pines and rhododendrons, and the tastiest of jams and pickles. It also houses the official summer residence of the President of India, and is known for its peaceful and serene ambiance, blissful weather, gorgeous views, and unmissable charm. It is also close to the Reserve Forest Sanctuary with an abundance of birds including pheasants, Himalayan eagles, chikors and partridges along with many animals that call this place their home including, monkeys, barking deer, hyenas and more.
Lemon Tree Hotel, Mashobra will feature 48 well-appointed rooms, a restaurant, a bar, a banquet hall, a swimming pool, meeting rooms and other public areas. Shaheed Bhagat Singh International Airport, Chandigarh is about 135 kms from the property while Kalka Railway Station is about 98 kms away. The hotel is also well connected by roadways for both public and private transport. This latest signing with Alyvia Hospitality Management Services in Mashobra is an addition to the two operational hotels and four upcoming properties in Himachal Pradesh.
Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms.
